Top 10 biggest Cotton exporter & supplier dynamics & trends of 2023

Explore the top 10 cotton exporter & supplier countries and companies globally in 2023, China is the world's biggest cotton exporter with exports worth $10.65 billion

INFOGRAPHICS Jun 17, 2024 1 4172 Add to Reading List

Top 10 biggest Cotton exporter & supplier dynamics & trends of 2023

Cotton remains a valuable commodity that plays a vast function in the economic system of numerous countries. As we look towards the year 2023, it is crucial to analyze the cotton export information to recognize the cutting-edge developments and projections for the coming years. The HS code for cotton is 52. Global Cotton exports accounted for $61 billion in 2023 with a slight decline of $2.72 billion from the preceding year. Cotton exports are a crucial aspect of the worldwide textile organization, with international locations around the world attractive in the trade of raw cotton and cotton merchandise. The export of cotton not simplest contributes to the economies of manufacturing countries but additionally performs an important role in assembling the call for textiles in importing international locations. In current years, the demand for cotton has been on the upward thrust because of elements together with the populace boom, increasing disposable earnings, and converting fashion developments.

Who are the Top 10 biggest cotton exporters globally in FY23?

China is the world's biggest cotton exporter, with exports worth $10.65 billion in 2023. Several countries are known for their significant contributions to the global cotton export market. In 2023, the top exporters of cotton collectively made up three-fifths (60.5%) of all cotton exports worldwide. These countries have a well-established cotton industry and are recognized as key players in the international cotton trade. Some of the biggest cotton exporters in 2023 include:

China: $10.65 billion
USA: $7.28 billion
India: $5.96 billion
Brazil: $3.2 billion
Australia: $2.92 billion
Germany: $752.66 million
Spain: $573.98 million
Indonesia: $483.49 million
Greece: $481.46 million
Malaysia: $289.52 million

top 10 biggest Cotton Exporters countries in 2023-24

Unraveling the Global Cotton Export Market Trends

Cotton is a versatile crop that is grown in numerous international locations around the sector, with important exporters and producers such as the US, India, and China. The global cotton export marketplace is driven by way of factors along with calls from textile industries, weather situations affecting crop yields, and government regulations on agricultural exports. In the coming years, global cotton exports are expected to reach record stages, driven by way of growing demand from rising economies and a rebound in purchaser spending on textiles.

With $61 billion in worldwide trade, cotton ranked as the 53rd largest traded product in the world in 2023.
Cotton exports fell from $63.72 billion to $61 billion in 2022–2023, a $2.72 billion decrease.
Cotton commerce makes up 0.27% of global trade.
Cotton is categorized under textiles.

Who are the major cotton-producing countries in 2023?

China, India, and the United States are the three nations that produce the most cotton, accordingly. China is the world's largest producer of cotton, with approximately 6.68 million metric tons produced in 2023. Because of its appealing qualities, cotton has an extensive history of use in the apparel business. This fiber absorbs moisture well, has a nice drape, and is well-known for its long endurance in clothing. Customers still buy a lot of cotton products because they like how comfy and light cotton is. Cotton goods include everything from basic clothing like t-shirts, underwear, and socks to extremely absorbent bath towels that may be used over bed linens. In 2023, the leading producers of cotton are as follows:

China: 6.68 million metric tons
India: 5.66 million metric tons
USA: 3.15 million metric tons
Brazil: 3.06 million metric tons
Australia: 1.26 million metric tons
Turkey: 1.06 million metric tons
Pakistan: 849K metric tons
Uzbekistan: 740K metric tons
Argentina: 245K metric tons
Mali: 160K metric tons

The USDA's recent WASDE report increases worldwide cotton production and stocks

In its most recent World Agricultural Supply and Demand Estimates (WASDE) report, which was made public Tuesday, the US Department of Agriculture (USDA) increased ending inventories and worldwide cotton production. Cotton consumption and starting inventories have grown for the 2024–25 season, but the forecast for global commerce has not altered.

The world-ending inventories are expected to be 83.5 million bales weighing 480 pounds each.
Production is expected to reach 119.14 million bales, up 90,000 bales from the original estimate due to increased area and yield in Myanmar.
To reach 116.94 million bales, consumption increased by 80,000 bales, with increases in Vietnam and Myanmar balancing decreases in other regions.
The 2023–24 global balance sheet has been revised to reflect lower trade and consumption and an increase of about 500,000 bales in ending stocks.
Globally, an ending stock of 83.49 million bales was predicted.
Following a drop in new-crop cotton futures, the 2024–25 season average upland farm cost is now 70 cents per pound, down 4 cents from the May prediction.
Ending stockpiles, at 4.1 million, or 28% of usage, are 400,000 bales higher.

What are the most popular cotton varieties exported?

The biggest and most popular varieties of cotton exports in 2023 include:

Cotton, neither carded nor combed (HS Code 5201): $21.84 billion
Cotton yarn other than sewing thread, containing >= 85% cotton by weight (HS Code 5205): $13.01 billion
Woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m² (HS Code 5208): $11.62 billion
Woven fabrics of cotton weighing > 200 g/m² (HS Code 5209): $6.64 billion
Woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, mixed (HS Code 5211): $4.18 billion
Cotton yarn containing < 85% cotton by weight (HS Code 5206): $1.76 billion
Cotton, carded or combed (HS Code 5203): $715.32 billion
Woven fabrics of cotton (HS Code 5212): $678.91 billion
Cotton waste, incl. yarn waste, and garnetted stock (HS Code 5202): $505.67 billion

Who are the major cotton exporting companies in the world?

The biggest cotton-producing and exporting companies in the world in 2023 are:

China National Cotton Group Corporation
Olam International
Louis Dreyfus Company
Archer Daniels Midland Company (ADM)
Groupe ETG
COFCO International
ECOM Agroindustrial Corp.
Dunavant Enterprises
Bartholomew Cotton Corporation
ECOM Cotton

Future Outlook

The future outlook for worldwide cotton exports appears promising as demand keeps to upward thrust regularly across diverse industries international. Factors together with the population boom, increasing disposable income levels in emerging markets, and the versatile nature of cotton as a textile contribute to the advantageous trajectory. Despite facing challenges like fluctuating fees and weather trade impacts on cotton manufacturing, technological advancements in farming practices offer capability answers. Through 2031–2032, exports are expected to increase gradually at a rate of about 0.7% annually, from 15.8 million bales in 2022–2023 to 16.1 million bales in 2031–2032. 3.2 million bales on average for the projection period, which is marginally more than the 3.1 million bales long-run average. Additionally, the shift towards sustainable sourcing practices is indicating a more environmentally conscious future for global cotton exports.

How to find potential cotton suppliers at the best prices online?

Now you can easily find cotton suppliers online at affordable prices from across the major cotton supplying and exporting countries such as China, India, Brazil, and more. TradeImeX allows you to find potential cotton suppliers at the best prices online. When looking to find potential cotton suppliers at the best prices online with TradeImeX, the first step is to utilize the platform's advanced search filters to narrow down suppliers based on your specific requirements such as quantity, quality, and delivery time. Once you have shortlisted potential suppliers, it is crucial to scrutinize their profiles, reviews, and ratings to ensure they are reliable and meet your standards. Contact us at info@tradeimex.in to find out more about cotton suppliers online.

Conclusion

In conclusion, cotton exports are expected to exhibit the continuing importance of cotton in the global financial system. With countries like China, the United States, India, and Brazil basically regulating cotton exports, the destiny seems promising for the worldwide cotton export trade. As we flow in the direction of 2023, it's miles going to be interesting to peer at how the dynamics of the global cotton market evolve and the effect it has on the economies of cotton-exporting and generating international locations.