MUMBAI (Commoditiescontrol) - Domestic cotton prices in Brazil are moving upside helped by delayed harvesting and inactivity by the sellers/stockists.
The CEPEA/ESALQ Index for payment in 8 days for cotton type 41-4, which includes freight to Sao Paulo grew 5.66 percent in August and export parity rose 6.1 per cent in the month, pushed up by the high dollar.
While the dollar rose 6.32 percent against the Brazilian Real, Brazilian cotton sellers increased closure of export contracts in August, motivated by the strong dollar.
According to a CEPEA report, Brazilian cotton remained competitive in the global market at the same time.
In August, the CEPEA/ESALQ Index was 1.5 percent up compared to export parity, but the average in dollar, cash payment, was 13.35 percent down at $0.6219 per pound.
This compares to the average of Cotlook A Index at $0.7177 per pound and 4.53 percent lower than the first contract at ICE Futures at $0.6514 per pound.
(By Commoditiescontrol Bureau; +91-22-40015532)
0 Comments 
Post Comment 
