Cotton export rises 59% in 2023-24 season, Bangladesh tops

Cotton marketing season (October to September) 2023-24 ended with total exports at 32.42 lakh bales. These were 59% higher than the volume shipped in the previous season of 2022-23. However, it was not a full recovery of the 62% drop seen in the previous season as only 20.36 lakh bales were exported.

In 2021-22 season, 53.58 lakh bales were exported which had a decline of 51% season on season.

Interestingly, cotton export volume tend to recover when prices fall in the previous season.

Export price (FOB) realisation averaged US cents 89.20 per pound in 2023-24. This was slightly lower than Cotlook A index, the global spot price benchmark and higher compared to spot prices for benchmark Gujarat Shankar-6. During the season, Cotlook averaged US cents 89.51 per pound while Shankar-6 averaged US cents 88.31 per pound.

During 2023-24, Bangladesh was the single largest importer of Indian cotton, followed by China and Vietnam. Total exports during the 2023-24 were worth INR8,977 crore or US$1,087 million.

28.5-34.5mm cotton is the single largest type exported from India in 2023-24.

During the last nine seasons, cotton was exported from 73 ports and in 2023-24, they were exported from 41 ports with Mundra, JNPT and Petrapole leading.

Source: Fibre to Yarn Export Statistics – India