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Brazilian Cotton Index up 16.91% in January
05
Feb '16
The Brazilian CEPEA/ESALQ Cotton Index rose 16.91 per cent in January 2016, the highest level reached since May 2011.

Explaining the reasons in a press release, CEPEA said with decreasing export parity and purchasers demanding cotton for prompt deliveries, producers' asking prices stayed firm in the domestic market.

On January 28, the Index reached the highest level since May 2011, at 2.6232 BRL or $0.644 per pound.

According to CEPEA, the monthly average of January, at 2.4482 BRL or $0.604 per pound, was 9.18 per cent higher than that from Dec 2015, while the partial average was the highest since April 2014 in Real terms.

Exports went up at a higher pace in the first fortnight of the month from oscillations in ICE Futures and the dollar valuation against the Real.

Export prices in January for shipments from February to April averaged $0.6337 per pound, down 1.96 per cent compared to data from December 2015. (AR)

Fibre2Fashion News Desk – India

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