Cotton exports from the US witnessed a steep fall in July 2022 from June 2022.
The new cotton marketing season begins in the country from August and exports had reduced drastically in the last month of the previous year 2021-22. However, the country had exported a large volume of cotton during the earlier months.The country had exported large quantities of cotton till June 2022 due to a scarcity of the natural fiber and skyrocketing prices.Therefore cotton exports dried up in the last month of the previous season.
US cotton exports amounted to $1,162.222 million in May 2022, $1,104.972 million in April 2022, $1,112.802 million in March 2022 and $919.778 million in February 2022.On a quarterly basis, cotton shipment from the US rose to $3.328 billion in the second quarter of this year from $2.820 billion in the first quarter. Exports declined to $1.002 billion in the fourth quarter of last year from $1.254 billion in the third quarter of 2021. Cotton exports amounted to $1.972 billion in the second quarter of last year.
The world’s largest economy earns $6-7 billion on an annual basis from cotton exports. The country had fetched $5.156 billion in 2021, $6.321 billion in 2020, $6.608 billion in 2019 and $7.088 billion in 2018 from cotton shipments.
