Upward trend slows down toward the end of January

At the end of January, Brazilian cotton prices moved up with less intensity compared to the previous weeks. In one side, growers offered a larger volume, motivated by the high levels. On the other side, buyers were more retreated. Between January 24th and 31st, the CEPEA/ESALQ Index for the type 41-4 (delivered in Sao Paulo city) increased slight 0.04 percent in Real, closing at 1.4157 real or 0.8044 dollar per pound on Thursday.

In the accumulated of this month, however, the Index upped 9.61 percent. Due to this aspect and to the decrease of international prices, the import parity calculated by Cepea shows that domestic values are getting close to the limit.

In general terms, market agents are optimistic. Anticipated trades have been representing a good volume in the 2007/08 crop, especially related to export. In 2007, Brazilian cotton exports totaled 419.4 thousand tons, according to the Foreign Trade Secretariat (Secex).

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