M. Shahbandeh
Research expert covering agriculture & FMCG
Cotton - statistics & facts
Cotton is the most often used natural fiber worldwide, and thus an important component of the textile industry. In 2022/2023, the total global production of cotton amounted to some 118.3 million bales. India, China, 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 241.15 million bales in 2022.
International cotton trade
The top exporter of cotton was the United States, with some 12.8 million bales of cotton exported around the world in 2022. Thus, the U.S. exported the majority of its harvests for processing abroad. Other leading exporters were Brazil and Australia. Among the leading importers were Bangladesh, Vietnam, and China – all of which are well-known for their production of large quantities of cotton clothing.U.S. cotton market
In the U.S., over million acres of land planted with cotton was harvested in 2021. 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 3.5 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. In the U.S. market, a cotton farmer received an average price of almost 85 cents per one pound of upland cotton as of 2022.
