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Quotes in BR cotton market keep the downturn
22
Jul '11
In early July, cotton quotes kept tumbling down in the Brazilian market, as did export parity, Cot A and future contracts at New York Board of Trade (ICE Futures). The demand was still low in both domestic and international markets, pushing down quotes.

Between June 30 to July 15, the CEPEA/ESALQ Index for cotton type 41-4 (delivered in São Paulo city, payment in 8 days) moved down 17%, to close at 1.5925 real or 1.0111 dollar per pound on July 15.

Conab (National Company for Food Supply - Brazil) reported that the planted area will be 1.39 million hectares, and yield is forecast to be 1,475 kilos per hectare. Consequently, production may reach 2.05 million tons.

According to data from Secex (Foreign Trade Secretariat), cotton exports amounted only 2.6 thousand tons in June, volume 48.1% higher than that in May (1.8 thousand tons). In the year, shipments totaled 50.2 thousand tons, 63% lower compared to the accumulated of the same period last year.

Imports were 47.1% lower in June comparing to May, amounting 18.5 thousand tons. In 2011, imports have totaled 133.9 thousand tons, against 22.2 thousand tons in the partial of 2010.

Center for Advanced Studies on Applied Economics (Cepea) is formed by a group of well-trained specialists that have been collecting and analyzing data from primary sources for more than 15 years. Cepea releases on a daily basis a set of price indexes that are widely used by farmers, agribusiness agents and by the government.

Center for Advanced Studies on Applied Economics (Cepea)

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