Index reaches the highest level since Nov/04

Brazilian cotton prices accumulate an increase of 7.02 percent during this month, according to the CEPEA/ESALQ Index (delivered to Sao Paulo city), which closed at 0.6702 dollar a pound last Wednesday, Jan 24. This value is the highest one since November of 2004, in real terms.

The supply keeps restrict in this off-season period. Growers are still focused on accomplishing anticipated contracts. In Mato Grosso state, which accounts for 50 percent of the Brazilian cotton production, the attentions are for the soybean harvest and for the winter cotton crop planting activities. Last week, in order to cash, some growers were more willing to trade. However, sales were settled only for very few volumes.

In 2006, Brazilian cotton exports totaled 304.5 thousand tons, volume 22 percent inferior over 2005 (391 thousand tons). Imports, on the other hand, increased 117 percent in relation to 2005, totaling 81.6 thousand tons.

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