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    Brazil’s cotton index rose 7.9% in August 2021

    Between July 30th and August 31st, Brazil’s cotton CEPEA / ESALQ index rose 7.9% and closed at 5.3540 BRL / pound on August 31st. The day before August 30, the index closed at 5.4748 BRL / sterling. Since the CEPEA index started in 1996. The monthly average for August ended at 5.2579 BRL / pound, which was 5.74 percent higher than July 2021.

    The Center for Advanced Research in Applied Economics (CEPEA), based in São Paulo, wrote in its latest biweekly report that the rise in the index during the month was a slight increase in demand, low cotton supply in the domestic spot market, and products. It was said that it was due to the international evaluation of. At the Brazilian cotton market.

    Between July 30th and August 31st, Brazil’s cotton CEPEA / ESALQ index rose 7.9% and closed at 5.3540 BRL / pound on August 31st. The day before August 30, the index closed at 5.4748 BRL / sterling. Since the CEPEA index started in 1996. The monthly average for August ended at 5.2579 BRL / pound, which was 5.74 percent higher than July 2021.

    In general, during the month, “Brazilian cotton farmers focused on harvesting, cotton processing and contract fulfillment. Sellers interested in closing deals saw a decline in production in 2020-21. Based on, we continued to raise the requested price along the month. During the season, the trading volume was already high and the stock was low. However, in the last week of the month, the trading company agent said that the price was higher than the export price. I was interested in closing deals in attractive domestic markets. ” Said.

    “Some buyers aren’t interested in buying the product at the end of the month, expecting that some will need cotton for quick delivery, while the value will decline as the cotton process progresses and the contract ends. Some processing plants reported sales growth in August, but these agents were still cautious about bulk purchases and feared that it would be difficult to pass on production costs. “.

    For the 2020-21 season, the Brazilian Cotton Producers Association (Abrapa) estimates that by August 26, cotton harvests reached 78% of Brazil’s area and cotton processing reached 26%. In Mato Grosso and Bahia (the two largest cotton producing states in the country), processing reaches 18% and 40% of production, respectively.

    Meanwhile, the first crop estimates for the 2021-22 season by state supplier Conab show an area of ​​1,548,000 hectares in Brazil, affected by current high prices, area in 2020-21. It is 13.4% larger than that. International market, stronger dollar compared to real, high profitability of cotton cultivation in Brazil, and previously sold quantity. According to Konab, “The high profitability of corn crops may curb the increase in Brazil’s cotton acreage.”

    Productivity is projected to be 1,750 kilograms per hectare, an increase of 2.1 percent from productivity in the 2020-21 season. Therefore, Brazil’s production is expected to increase by 15.8% compared to the previous season to 2.71 million tonnes from 2021 to 2010.

    Domestic consumption could increase from 715,000 tonnes to 760,000 tonnes in the 2021-22 season (+ 6.3 percent). Meanwhile, Brazil’s cotton exports are projected to be 2.03 million tonnes, down 3.3% from the 2020-21 estimate. Therefore, the final inventory is estimated at 1,045,000 tonnes, 19.1 percent less than the previous season. Therefore, the inventory / consumption ratio in 2021 is projected to be 181%, which could drop to 137% in 2022, the lowest in four years.

    Fiber2Fashion News Desk (RKS)

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    Brazil’s cotton index rose 7.9% in August 2021

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