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Cepea, March 4, 2024 – Cotton prices were oscillating from BRL 4.20 and 4.3/pound in Brazil in late February. Comparing January 31 and February 29, the CEPEA/ESALQ Index for cotton upped 9.46%, closing at BRL 4.3645/pound on Feb. 29.
Given the price level in the international market, many sellers were firm regarding quotations in Brazil. Cotton growers were focused on the good development of the 2023/24 season and many of them claim they do not need to sell. As for the industry, agents have been trying to close deals for the short-term and term contracts. Companies that have immediate needs offer higher values, especially for the high-quality product.
SHIPMENTS – Data from Secex indicate that, in 10 working days of February, Brazilian cotton exports totaled 146.3 thousand tons, significantly higher (+239%) than that registered in February/23.
(Cepea-Brazil)
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Fonte: Cepea