Brazil'S Cotton Index Plunged 4.5% In October
Since the beginning of October, Brazil market cotton
Price
Has been declining.
The cotton type 41-4 (CEPEA) /ESALQ index (St Paul, 8 day payment) was dropped by 4.54% in the first half of October (September 30th -10 14), and closed at 1.7543 Real or 1.0128 US dollars / pound in October 14th.
From a balanced perspective, there are only a few business pactions, mainly cotton.
Plant
People are more flexible in price.
Buyers are eager to lower quotations, because some of them are still accepting contract products or are unable to pfer raw material prices to the final product.
Many buyers are still watching the market.
In general, cotton in the spot market is also considered to be low quality cotton, which limits market pactions.
Most buyers are interested in high quality cotton, but the supply of good quality cotton is very small.
According to Secex (Foreign Trade Secretariat) report, September exports
Number
140 thousand and 400 tons, an increase of 19.5% compared with the export volume of 117 thousand and 500 tons in August.
Compared with September 2010, the number of exports increased by 55.8%.
In 2011, the export volume reached 335 thousand and 700 tons, an increase of 5.7% over the same period last year.
Brazil Conab (national food supply company) issued a statement on October 6th, saying that the cotton planting area in 2011/12 may reach 1 million 360 thousand hectares -149 10000 hectares, a decrease of 2.9% to 6.1% compared with 2010/11.
Output is likely to grow from 1 million 930 thousand tons to 2 million 110 thousand tons, with an average increase of 3.2%.
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