Brazilian cotton prices fluctuate in second fortnight of Oct05
In the second fortnight of October, the pace of cotton trades was weak in the Brazilian market leading to fluctuations in cotton prices. Buyers as well as sellers showed less interest for both, prompt and long-term deliveries, while low supply of quality cotton also led to cotton prices oscillating in the Brazilian market in the fortnight.
According to a CEPEA report, cotton growers were focusing on deliveries on contracts signed earlier and indicated that they would make cotton available in the spot market after accomplishing these contracts.
“Due to which, only low quality cotton was available in the market, which was not approved by purchasers,” CEPEA said in the report.
In the reporting fortnight, the CEPEA/ESALQ Index, for payment in 8 days, for cotton type 41-4 dropped marginally by 0.68 per cent, closing at BRL 2.5073 or $0.7872 per pound on October 31.