International cotton trade
The top exporter of cotton was the United States, with some 16.35 million bales of cotton exported around the world in 2021. Thus, the U.S. exported the majority of its harvests for processing abroad. Other leading exporters were Brazil, India, and Australia. Among the leading importers were China, Bangladesh, and Vietnam – 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 7.5 billion U.S. dollars in that year. Traditionally, the Southern states generate the largest amounts of cotton. With some five 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 76 cents per one pound of upland cotton as of 2021.
