Turkey's cotton exports rise, expected to touch 1.3 mn bales in 2024.

Turkey is poised to become a major cotton exporter, with shipments doubling in two years. This rise comes despite a decline in domestic cotton use, attributed to the February earthquake, inflation, and lower global apparel demand.

USDA forecasts Turkish exports to reach 1.3 million bales this year, driven by competitive prices and a tenfold rise in shipments to China. Lower costs also boosted exports to Bangladesh, Vietnam, and Indonesia.

However, this export boom is offset by a domestic slump. Cotton apparel exports fell 15 per cent in the first five months of the season, mirroring a decline in overall textile exports last year.

The earthquake significantly impacted yarn production, with some regions needing up to a year to recover. Additionally, rising interest rates, labor costs, and input costs are hurting Turkey's competitiveness.

Also weakened demand in key export markets like the EU and UK is impacting Turkish cotton apparel sales. Economic stagnation in the EU and recession in the UK are leading consumers to tighten discretionary spending.

While Turkey's export surge is impressive, it might be temporary. A rebound in domestic consumption and apparel exports is expected to eventually decrease future shipments.