M. Shahbandeh
Research expert covering agriculture & FMCG
Cotton - statistics & facts
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China, India, and the United States were the largest producers, responsible for more than the half of the world’s total production volume. The total global supply of cotton, stocks included, stood at approximately 224 million bales as of 2024. Cotton is the most often used natural fiber worldwide, and thus an important component of the textile industry. In 2023/2024, the total global production of cotton amounted to some 114 million bales.
International cotton trade
The top exporter of cotton was Brazil, with over 2.6 million metric tons of cotton exported around the world. Other leading exporters were the U.S. and Australia. Thus, the U.S. exported the majority of its harvested cotton for processing abroad. Among the leading importers were China, Bangladesh, and Vietnam – all of which are well-known for their production of large quantities of cotton clothing.U.S. cotton market
In the U.S., over ten million acres of land planted with cotton and over seven million acres was harvested in 2023. The production value of the cotton grown in this area stood at almost 6.5 billion U.S. dollars in 2022. Traditionally, the Southern states generate the largest amounts of cotton. With some 2.8 million bales, Texas was by far the leading cotton producing U.S. state. Georgia, Arkansas, and Mississippi followed.Cotton prices
Prices for cotton remained very stable between 2003 and 2009, roughly ranging between 60 and 70 U.S. cents per pound on the global market. Record highs were reached in 2011, when the global average price climbed to almost 136 cents per pound. 2012 was marked by a heavy price decline. Between 2012 and 2022, the cotton prices have been increasing but in a slower pace. In the U.S. market, a cotton farmer received an average price of almost 76cents per one pound of upland cotton as of 2024.M. Shahbandeh
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Dec 13, 2024
M. Shahbandeh
Research expert covering agriculture & FMCG
