In the 2023/24 season, Turkey produced 777,000 tons of lint cotton (equivalent to 2.1 million tons of seed cotton) on 478,000 hectares. During the first nine months of the season, Turkey exported 270,000 tons and imported 511,000 tons of cotton. The average exchange market price for lint cotton during this period was 54.88 TL/kg. According to TÜİK’s first estimate for plant production, seed cotton output is projected to reach 2.2 million tons in the 2024/25 season. Cotton trade in the 2023/24 season is expected to grow by 15%, reaching a total of 9.5 million tons, with the planting area, yield, and production remaining similar to the previous season. Cotton prices, which surged to an average of 132 cents per pound in the 2021/22 season, have fallen to about 94 cents per pound as of June 2024. International cotton prices declined significantly in 2022/23, with the Cotlook A index dropping by 30% to $2.24/kg compared to the previous season. The global cotton market continues to be influenced by price fluctuations, trade policies, and changing consumer preferences. In Turkey, overall production decreased by 24% in 2023/24, mainly due to falling cotton prices, and lint cotton imports have been declining since the 2021/22 season. Selected cotton supports have increased over recent years: soil analysis support rose from 0.80 TL/da to 1.00 TL/da, fertilizer support from 4 TL/da (2019) to 21 TL/da (2022–2023), fuel support from 62 TL/da (2019–2020) to 345 TL/da in 2023, and deficiency payment support from 0.8 TL/kg to 1.6 TL/kg over the same period.(source:https://arastirma.tarimorman.gov.tr/tepge/Belgeler/PDF%20Tar%C4%B1m%20%C3%9Cr%C3%BCnleri%20Piyasalar%C4%B1/2024-Temmuz%20Tar%C4%B1m%20%C3%9Cr%C3%BCnleri%20Raporu/Pamuk%20Tar%C4%B1m%20%C3%9Cr%C3%BCnleri%20Piyasalar%C4%B1%20Raporu%20Temmuz-2024-v4.pdf) |