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Brazilian Cotton Index CEPEA/ESALQ drops 4.2% in May
04
Jun '14
In spite of the resistance of some sellers, cotton values resumed decreasing in late May and early June – May was the fourth consecutive month of price decreases. Drops are attributed to the lower quality of batches, due to the nearness of the end of the 2012/13 season, the low purchase interest from the industry and the smaller export parity.
 
In May, the CEPEA/ESALQ Index for cotton type 41-4 moved down 4.26%, closing at 1.9279 real (0.8606 dollar) per pound on May 30. It is worth noting to mention that cotton sales to the international market, especially in the first two weeks of May, and the need to purchase from companies from the Northeastern area in Brazil in previous periods prevented price decreases to be even higher in May. The monthly average, of 1.9504 real per pound, was 6.6% lower than that in April 2014 and 1% smaller compared to that in May 2013, in nominal terms. 
 
As for the 2013/14 harvesting, players surveyed by Cepea say that there will be a delay of roughly 25 days in major producing regions in Cerrado, due to weather oscillations since the beginning of 2014, including low temperatures last week. Therefore, producers who still have high-quality batches keep expectations to sell at higher values compared to the observed currently.
 
Between May 27 and 30, the index for Cotlook A decreased 2.23% in relation to the previous week (May 19-23). In the same period, the dollar average upped 0.88%. The export parity calculated by Cepea FAS (Free Alongside Ship) Paranaguá port averaged 1.7169 real per pound, downing 1.61% compared to the previous.

CEPEA


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