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Demand for high quality cotton pulls up Brazilian prices
07
Aug '15
Despite the harvesting period, low availability of cotton and demand for high quality cotton batches pulled up July prices in the Brazilian market.

A CEPEA report informed that cotton processors were more active, buying small batches of up to 200 tons, while at the same time, traders were also demanding cotton.

“Despite various types of cotton in the spot market from the 2014/15 season and the previous one, which pressured quotes in some moments, the urgency led processors to increase prices,” it added.

The CEPEA/ESALQ Index, for payment in 8 days, for cotton type 41-4, which includes freight to São Paulo city increased 1.83 per cent in the month, closing at 2.13 BRL per pound or 0.625 dollar per pound on July 31.

The harvesting of 2014/15 crop was slow in major producing regions and most batches of high quality cotton were allocated to accomplish contracts.

“Some agents said the amount of good quality cotton was not enough to meet commitments in July and according to sources, many cotton batches had quality problems,” the report noted.

According to CEPEA figures, trades in July for shipments from August to December 2015 averaged 0.6929 dollar per pound, 0.76 per cent higher than the average of June 2015.

Shipments meant for the second quarter of 2016 of the 2015/16 crop averaged 0.7104 dollar per pound, here to higher by 1.34 per cent from June 2015. (AR)

Fibre2Fashion News Desk – India

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