Despite larger crop of 18.5 million bales, US cotton exports are expected to decline to 15.5 million bales in 2021-22 from the previous year. As per a report by the US department of agriculture (USDA), US cotton exports reached their highest levels in 15 years to 16.4 million bales in 2020-21. China emerged as the largest importer of US cotton for the first time in 6 years at more than 5 million bales. However, US exports to eight of its 10 largest markets declined from the previous year, says, the Foreign Agriculture Service (FAS) of the USDA in its September 2021 report on ‘Cotton: World Markets and Trade.’

US’ exports to China reached its highest levels in 8 years with demand led by China’s State Reserve. US cotton accounted for almost 90 per cent of State Reserve imports and nearly one-half of China’s total imports in 2020-21. Bangladesh, Vietnam, Pakistan, and Turkey, rounded up as the top five largest global importers of US Cotton in 2020-21. Higher yarn prices and rising global demand for cotton products spurred imports and cotton consumption.

Brazil and India helped supplant US exports in these respective markets; Brazil’s 2020-21 exports exceeded the previous year’s record by roughly 2 million bales, and India is projected to register its highest exports in 7 years. China is once again forecast as the world’s largest importer at 10.0 million bales, but its imports declined by over 2.8 million from the previous year.