Cotton - Brazilian market slows down, expecting new season
By Artur em 27/06/2009 :: Talk wiht us
Brazilian cotton prices kept downward trend along with the first fortnight of June. In this scenario, growers were interested in liquidating stock left from 2007/08 crop. Buyers, in turn, refrained from trading, expecting products from new season that should be available in the next fortnight. Prices remain pressed also by lower export and import parity.
Between May 29 and June 15, the Cepea/ESALQ Index for cotton type 41-4 (delivered in Sao Paulo city, payment in 8 days) dropped 4.87 percent, to 1.1964 reais or 0.6125 dollar per pound on June 15. This price is similar to that in early May/09.
According to Conab (Brazilian Company for Food Supply), cotton planting area in the 2008/09 crop reduced 22.7 percent, totaling 833.2 thousand hectares. The cotton production was estimated in 1.191 million tons, a reduction of 25.7 percent compared to 2007/08 season (1.602 million). Regarding exports, Conab forecasts a drop of 18.4 percent in the volume of 2008/09 crop, to 435 thousand tons.
Source: Cepea
www.cepea.esalq.usp.br
Between May 29 and June 15, the Cepea/ESALQ Index for cotton type 41-4 (delivered in Sao Paulo city, payment in 8 days) dropped 4.87 percent, to 1.1964 reais or 0.6125 dollar per pound on June 15. This price is similar to that in early May/09.
According to Conab (Brazilian Company for Food Supply), cotton planting area in the 2008/09 crop reduced 22.7 percent, totaling 833.2 thousand hectares. The cotton production was estimated in 1.191 million tons, a reduction of 25.7 percent compared to 2007/08 season (1.602 million). Regarding exports, Conab forecasts a drop of 18.4 percent in the volume of 2008/09 crop, to 435 thousand tons.
Source: Cepea
Links referenciados
Cepeawww.cepea.esalq.usp.br
www.agrosoftbrazil.com
© 2009 Agrosoft Brazil
Fale Conosco