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Cotton prices continue to remain firm in Brazilian market
04
May '17
Since early March, cotton quotes have been firm in the Brazilian market. Since then, the CEPEA/ESALQ Index, 8-day payment terms, for cotton type 41-4, delivered in São Paulo, has oscillated only slightly, closing between 2.7118 real and 2.7705 real per pound. The widest variation was observed in early March, when the Index rose 1.06 per cent.

Between March 31 and April 28, the CEPEA/ESALQ Index, 8-day payment terms, for cotton type 41-4, delivered in São Paulo, remained stable (-0.01%), closing at 2.7641 real ($0.8719) per pound on April 28.

In mid-April, cotton trades were weak in the Brazilian market. In general, sellers were more active than purchasers. Some processors did not buy cotton then as they had adequate stock, and only small plants purchased in small volumes, the Center for Advanced Studies on Applied Economics (Cepea) said in its latest fortnightly report on cotton.

In late April, some batches (mostly small volumes) were purchased for quick delivery, either with purchasers flexible regarding quality or with sellers willing to lower their asking prices.

Although the National Supply Company, Conab, has indicated a 14.3 per cent larger output in 2016-17 season, some growers continue firm, waiting for higher prices until the new crop enters the market. Agents from processors, however, are cautious as the pace of by-products sales has been slow.

Regarding trades for delivery in the 2016-17 and 2017-18 seasons, liquidity in April was good for both the domestic and export markets. (RKS)

Fibre2Fashion News Desk – India


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