Brazilian cotton exports hit a record, but trade slows

Brazil’s cotton exports surged, hitting record levels in the 12-month period, driven largely by strong shipments to China.
March exports rose sharply MoM and YoY, marking the highest volume for the month.
Domestic prices remained firm despite weak demand, supported by quality-linked premiums.
Production outlook shows mixed trends, with slightly higher output forecast but lower area and yields YoY.