Firm quotations in the first fortnight

From August 29th to September 15th, the CEPEA/ESALQ Index for the cotton type 41-4 (delivered in Sao Paulo city, payment in 8 days - the most common commercialization in Brazilian market) raised 1.86 percent in Real, closing at 1.2164 real or 0.6720 dollar a pound on Monday.

Growers kept firm, focused on accomplishing export and domestic contracts. Moreover, the demand enlarged, contributing to boost domestic values even more. The Real depreciation against the dollar (of 11.08 percent in the accumulated of the first fortnight of September) reinforced the increases in prices.

According to Secex (Foreign Trade Secretariat), in August/08, Brazilian cotton exports amounted to 48.7 thousand tons, volume 11.5 percent higher compared to August 2007. (Cepea - Brazil)


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