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Low purchases weaken Brazilian cotton price in late April
14
May '15
Cotton prices weakened in the Brazilian market in late April due to lower purchases and adjustments in tune with prices prevailing international markets.

Still, the monthly average price in April increased for the fifth consecutive month as against its previous month and taking in to account the CEPEA/ESALQ daily index, prices have moved up 31 per cent over the year.

An April cotton report from CEPEA, Brazil informed that in April, the index recorded a rise of 4.5 per cent, lower than the 21.1 per cent it posted in March 2015.

At the beginning of April, consecutive rises were underpinned by strong demand from the industry and traders and by the firm position of sellers.

“Although it was more advantageous to trade in the last days of April, a good volume of cotton had already been traded for future contracts to be delivered until the beginning of the 2014/15 crop,” the report said.

According to the Brazilian Commodity Exchange data tabulated by CEPEA, 81.1 per cent of the 2013/14 crop, forecast at 1.734 million tons, had already been traded until the end of April.

Of this total, 54.2 per cent was traded in the national market and 45.8 per cent in the international markets.

In April 2015, the CEPEA/ESALQ Index for payment in 8 days which includes freight to São Paulo city for cotton type 41-4 closed at BRL 2.1685 per pound or US$ 0.712 per pound, down 0.85 per cent from April 2014. (AR)

Fibre2fashion News Desk - India

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