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The strong downturn in international stock exchanges put pressure on the domestic cotton market. In the CIF average for São Paulo's textile industries, the feather closed on Thursday (23) quoted at R$ 7.20 per pound, a drop of 1.37% in relation to the previous day and at the lowest level since the 25th of April. On the 15th, R$ was worth 7.65 per pound. Compared to the same period last month, it accumulates losses of 9.43%. Compared to the same moment last year, gains are 50.63%.
Compared to the total production cost, the current parity guarantees margins close to 26.4% in the main production regions. In the FOB export from the port of Santos/SP, the indication on the 23rd was 142.35 cents per pound, a drop of 2.39% compared to the previous day. This price makes the Brazilian product 40.22% more expensive than the North American product (contract December/22) negotiated in New York. On the previous day, this difference was 35.2% higher. A week ago it was 31% higher. And a month ago, 27.8% higher.
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According to Abrapa figures, Brazil exported 1.6 million tons from August to May 2022, totaling revenue of US$ 3.01 billion. The volume shipped is 28.4% lower than that recorded in the same period of 20/21.
From August 2021 to May 2022, China remains the main destination for Brazilian exports (449 thousand tons) and represents 28% of accumulated exports. Destinations China, Vietnam and Pakistan represent 70% of the accumulated drop in exports to date.
Despite the lower total volume exported, 12 countries increased Brazilian imports, with emphasis on Italy (+1.89 thousand tons) and the Philippines (+1.78 thousand tons) and Portugal (+0.5 thousand tons).
Per: CROP&MARKET
