Oscillations in international prices and the dollar-real exchange rate resulted in an increase in price in Brazil’s domestic market in February 2018. After slow pace of cotton trade in the first fortnight due to the carnival period and the end of new crop sowing activities, processors and traders became more active in the second fortnight.
Between January 31 and February 28, the CEPEA/ESALQ (Center for Advanced Studies on Applied Economics/Luiz de Queiroz College of Agriculture) cotton Index
The cotton market on Wednesday was in the process of modest trading with strong demand for quality lint pushing the rates sharply up. According to the market sources, prices gained momentum on fresh buying interest by the spinners to replenish their stocks.
The official spot rate after maintaining a stable trend went up by Rs 100 to Rs 7000, dealer said. In Sindh and the Punjab, seed cotton prices were at Rs 2400-3000 while in the ready session, approximately, 5000 bales of cotton changed han
Steady conditions prevailed on the cotton market on Thursday as buyers kept looking for quality lots.
At the outset, there was strong demand for quality lint from spinners who strived to build up their inventories.
However, shortage of quality lint disappointed many.
The rising trend in world’s leading cotton markets including New York cotton psychologically impacted trading, because during last two sessions, cotton prices rose between 3 to 3.5 cents per pound.
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