Home / Knowledge / News / Textiles / Brazilian cotton prices down as trading pace slows

Brazilian cotton prices down as trading pace slows

19
Sep '18
Brazilian cotton prices down as trading pace slows
Cotton quotes dropped in Brazil in the first fortnight of September due to slow trading pace in the spot market. However, the decline was not as much as seen in previous weeks. From August 31 to September 14, the CEPEA/ESALQ cotton Index, with payment in 8 days, decreased a slight 0.23 per cent, closing at 3.1822 BRL per pound on September 14.

“While purchasers were searching for high quality batches at lower prices, sellers were supplying heterogeneous batches, which increased the competition between agents,” Center for Advanced Studies on Applied Economics (CEPEA) said in its latest fortnightly report on the Brazilian cotton market.

A large volume has already been sold and, as harvesting and processing advance, cotton farmers focus on the deliveries, which, in some cases, are late. Besides, the recent dollar appreciation against real fastened the delivery pace and strengthened price fixing for contracts this month, the report added.

Meanwhile, data from IMEA (the Mato Grosso Institute for Agricultural Economics) indicate that, until September 14, harvesting of the 2017-18 crop in Mato Grosso, the largest cotton producing province in Brazil, had reached 99.47 per cent of the state area. This is above the last five years average of 93.38 per cent.

Conab (the National Company for Food Supply) has revised its estimate for the 2017-18 Brazilian crop upward by 2 million tons. Conab expects Brazil’s 2017-18 crop to be 31.1 per cent higher than the previous season, chiefly due to a 25.1 per cent increase in the area sown with cotton, which touched 1.17 million hectares. The average productivity is also projected 4.8 per cent higher than 2016-17 to 1,708 kilos per hectare in 2017-18.

In terms of international trade, cotton shipments from Brazil turned positive after dropping for nine consecutive months, according to Secex (the Secretariat of Foreign Trade). In August 2018, cotton exports were 21,400 tons, around three times of 8,700 tons exported in July 2018, but still 68.6 per cent lower than in August 2017. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: ASEAN

Apparel/Garments | On 16th Nov 2018

ASEAN RCEP pushed back to 2019 due to lack of consensus

The Association of Southeast Asian Nations (ASEAN) postponed...

Cotton sector to receive boost in Azerbaijan's Ujar region

Textiles | On 16th Nov 2018

Cotton sector to receive boost in Azerbaijan's Ujar region

Factories for cotton processing, production of cottonseed oil and...

Uzbekistan wants zero EU customs duty on textile products

Textiles | On 16th Nov 2018

Uzbekistan wants zero EU customs duty on textile products

Uzbekistan plans to seek zero customs duty from the European Union...

Interviews View All

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search