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Cotton trades sluggish in spot market
17
Sep '11
In early September, cotton trades were moving at a slow pace in Brazil, due to the price oscillations. Differences between asking and bidding prices prevailed at the beginning of the month. While purchasers expected quotes to drop because of the end of the harvesting, producers focused on the accomplishment of contracts.

In August, exports hit a record regarding volume and revenue. Brazil shipped 117.5 thousand tons last month, way above that registered in October 2008 (106.4 thousand tons), the highest amount ever exported in one month. The revenue reached 252.2 million dollars in August, a record.

Brazilian exports in August 2011 were 61.7% higher than in August 2010. However, in the accumulated of the year, shipments have amounted only 195.3 thousand tons (year on year decrease by 14.2% to 227.6 thousand tons). On the other hand, the revenue obtained in the partial of 2011 reached 409.3 million dollars, against 350.8 millions in the same period of 2010.

Between August 31 and September 15, the CEPEA/ESALQ Index for cotton type 41-4 (delivered in São Paulo city, payment in 8 days) upped slightly 0.2%, to close at 1.8080 real or 1.0585 dollar per pound on Sept. 15.

In early September, producers surveyed by Cepea were focused on the wrapping up of the harvesting activities, on the advance of the cotton ginning and on the final adjustments of the new summer season. Purchasers, however, were refrained because of instabilities in the market. In most cases, they traded only to rebound inventories.

CEPEA - Center for Advanced Studies on Applied Economics is a research center of the University of São Paulo located at ESALQ in Piracicaba, State of São Paulo. It is focused on agribusiness issues considering a diversity of related subjects: market analysis and price discovery, international trade, macroeconomics, management strategies, environmental and social aspects, entrepreneurship and family farming.

CEPEA - Center for Advanced Studies on Applied Economics

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