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Brazil cotton prices marginally up from high demand in Aug
02
Sep '14
Higher demand and need for textile mills to replenish stocks, helped marginally strengthen Brazilian cotton prices in August.

Alongside, volume of cotton exports shipped in the month is higher from July 2014 and also from August 2013, which also fuelled the price rise, Brazilian Agency CEPEA said.

Cotton producers, on the other hand, were unwilling to trade and are expecting a government intervention, because prices are lower than the official minimum.

Brazilian producers were however concerned about the quality, especially of cotton from Bahia and from parts of Mato Grosso.

The CEPEA/ESALQ Index for cotton type 41-4 closed at 1.7147 BRL (0.7521 dollar) per pound on August 29, up 1.2% compared to July 31.

Preliminary data from Foreign Trade Secretariat indicated that till August 22, Brazil had shipped 48,500 tons cotton, more than the volume observed in July 2014 and also in August 2013.

The daily cotton export average of 3,000 tons in August 2014 is above the daily average of 2,100 tons in August 2013.

CEPEA expects that at this rate, Brazilian cotton shipments should reach 50,000 tons in August 2014, a volume not seen since November 2013.

Between August 18 and 25, Cotlook A Index rose 0.34% compared to its previous week ending August 15.

In the same period, the dollar average dropped 0.48%. The export parity calculated by Cepea FAS (Free Alongside Ship) Paranaguá port averaged Real 1.4201 per pound, down 0.15% from its previous week.

Fibre2fashion News Desk - India

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