Firm values due to growers’ retreat

Brazilian cotton growers kept firm about the values during the first fortnight of March. On the demand side, wholesalers were more willing to trade, contributing for supporting the quotations. Between Feb 29th and March 14th, the CEPEA/ESALQ Index for the type 41-4 (delivered in Sao Paulo city) increased 4.6 percent in Real, closing at 1.4392 real or 0.8416 dollar a pound on Friday.

The increases of international prices (ICE Futures and the Cotlook A Index) - especially during the first week of March - and, as a result, the higher export parity were some reasons for growers' retreat. In the second week of March, international quotations decreased again, which contributed for the stability in the domestic market last days. (Cepea - Brazil)

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