MUMBAI (Commoditiescontrol) - Cotton prices in Brazil continued to stay firm in the first fortnight of September despite weak domestic and exports demand.
As per CEPEA report, cotton prices are gaining momentum from tight availability due to delayed harvesting and increases in export parity.
The CEPEA/ESALQ Index, for payment in 8 days, for cotton type 41-4, which includes freight to Sao Paulo city grew 2.90 percent till the fifteen days to September 15.
Quoting statistics from the Brazilian Foreign Trade Secretariat (Secex), the report added that almost 50,000 tons were exported in August 2015, a massive 216 percent surge compared to July 2015.
But August 2015 exports were 47.8 percent down than in August 2014, while revenues soared 246 percent between July and August 2015 compared to the same period in 2014, totaling to $79.8 million.
In the Brazilian currency, revenue increased 39.6 percent, while average price rose 8.2 percent. In volume, exports expanded 29.1 percent between January and August 2015 vis-a-vis the same period of 2014.
However, from January to August 2015, Brazil imported 117,000 tons, down a steep 96 percent versus the same period in 2014 and value too fell 94 percent at $3.27 million.
(By Commoditiescontrol Bureau; +91-22-40015532)