Interviews
Brazilian cotton buyers active in fortnight ended March 15
21 Mar '17
1 min read
In the fortnight ended March 15, following declines in international prices, Brazilian cotton buyers seemed active in the market, trying to purchase new stocks at lower quotes and thereby replenish stocks. However, sellers held their ground and remained firm, expecting cotton prices to bounce back before the beginning of the next cotton season.
The CEPEA/ESALQ Index for cotton type 41-4, delivered in São Paulo for payment in eight days, closed at BRL 2.7388 or $0.8795 per pound on March 15, up 0.94 per cent compared to February 24.
The CEPEA report also added that CONAB has upwardly revised the 2016-17 cotton harvest forecast at 1.443 million tons, an increase of 11.9 per cent over the previous crop. CONAB attributed the increase to a 15.5 per cent higher yield, at 1,559 kilos per hectare. (AR)
The CEPEA/ESALQ Index for cotton type 41-4, delivered in São Paulo for payment in eight days, closed at BRL 2.7388 or $0.8795 per pound on March 15, up 0.94 per cent compared to February 24.
The CEPEA report also added that CONAB has upwardly revised the 2016-17 cotton harvest forecast at 1.443 million tons, an increase of 11.9 per cent over the previous crop. CONAB attributed the increase to a 15.5 per cent higher yield, at 1,559 kilos per hectare. (AR)
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