Latin America and the Caribbean: Cotton Lint Market 2024

Cotton Lint Market Size in Latin America and the Caribbean

In 2022, the Latin American cotton lint market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cotton Lint Production in Latin America and the Caribbean

In value terms, cotton lint production declined modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Brazil (X tons) remains the largest cotton lint producing country in Latin America and the Caribbean, comprising approx. X% of total volume. Moreover, cotton lint production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume in Brazil stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (X% per year) and Mexico (X% per year).

The average cotton lint yield soared to X tons per ha in 2022, with an increase of X% compared with 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the cotton lint yield reached the maximum level at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cotton lint production in Latin America and the Caribbean expanded sharply to X ha, with an increase of X% on 2021 figures. Overall, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to cotton lint production reached the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Cotton Lint Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of cotton lint decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, saw a notable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton lint exports expanded rapidly to $X in 2022. In general, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Brazil dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Argentina (X tons), generating a X% share of total exports.

Brazil was also the fastest-growing in terms of the cotton lint exports, with a CAGR of X% from 2012 to 2022. At the same time, Argentina (X%) displayed positive paces of growth. From 2012 to 2022, the share of Brazil increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest cotton lint supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%).

Cotton Lint Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of cotton lint increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cotton lint imports soared to $X in 2022. In general, imports showed modest growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Peru (X tons), Guatemala (X tons), El Salvador (X tons), Nicaragua (X tons) and Colombia (X tons) represented the major importers of cotton lint, together creating X% of total imports. Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nicaragua (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton lint importing markets in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Guatemala ($X), together accounting for X% of total imports. El Salvador, Nicaragua, Colombia and Honduras lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Nicaragua, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton lint import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Peru ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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