Home / Knowledge / News / Textiles / Brazilian cotton prices drop more than 7% in October

Brazilian cotton prices drop more than 7% in October

06
Nov '18
Brazilian cotton prices drop more than 7% in October
Cotton prices dropped in Brazil in October. From September 28 to October 31, the Center for Advanced Studies on Applied Economics (CEPEA)/ESALQ cotton Index, with payment in 8 days, dropped 7.67 per cent, closing at 2.9510 BRL per pound on October 31. The monthly average price, at 3.0750 BRL per pound, was 3.5 per cent lower than in September 2018.
 
During the month, trading pace was slow in the Brazilian spot market and most deals involved small amounts. Purchasers did not seem very interested in closing new trades, since they expect supply to increase and prices to drop in the coming weeks. Besides, heterogeneous quality among the batches supplied hampered sales in the spot too, CEPEA said in its latest fortnightly report on the cotton market.
 
Sellers, in turn, lowered asking prices even more, due to the lower quality of the cotton supplied, dollar drops against Real and Futures oscillations at ICE Futures (New York Stock Exchange), the report said.
 
According to data from the BBM (Brazilian Commodity Exchange) tabulated by CEPEA, 58.5 per cent of the 2017-18 Brazilian crop, estimated at 2.005 million tons, may have been traded until October 30. Of this total, 54.3 per cent was bought for use in the domestic market, 32.7 per cent for export to the international market and 13 per cent was flex contracts (exports with an option to the domestic market).
 
Regarding the 2018-19 crop, data indicate that at least 20 per cent of the output (forecast by Conab at 2.202 million tons, on average) has been traded – 54.9 per cent in the Brazilian market, 17 per cent for exports, and 28.2 per cent for flex contracts. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th May 2020

Iran sees high level of illegal apparel imports

Iran suffers from a high level of illegal apparel imports, with about ...

Pic: ASOS

Fashion | On 30th May 2020

Asos Marketplace sees increase in growth

In the times of lockdown, Asos Marketplace has witnessed strong...

Pic: Otrium

E-commerce | On 30th May 2020

Otrium raises €24 mn to extend fashion's life cycle

Otrium, an online fashion marketplace that helps global and...

Interviews View All

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Akash Sehgal,

Akash Sehgal

Part of retail and hospitality conglomerate Landmark Group in Dubai,...

Fabio Grandis,

Fabio Grandis

Italian company Grandis SRL has been operating in the textile industry for ...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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


May 2020

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


Advanced Search