The country had exported large quantities of cotton till June 2022 due to a scarcity of the natural fibre and skyrocketing prices. Therefore, cotton exports dried up in the last month of the previous season. Cotton exports amounted to $1,162.222 million in May, $1,104.972 million in April, $1,112.802 million in March and $919.778 million in February 2022, according to Fibre2Fashion’s market insight tool TexPro. 

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 had 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. 

Fibre2Fashion News Desk (KUL)