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Porto Alegre, May 20, 2022 – The Brazilian cotton market maintained its upward trend in this third week of May. “Short availability and the industry’s need for supply continue to support feather prices”, highlights SAFRAS & Mercado analyst and consultant, Gil Carlos Barabach.
In the industrial hub of São Paulo, national fiber was quoted at R$ 8.00 per pound on May 19th, compared to R$ 7.95 per pound on the 12th. seller fluctuated around R$ 8.10 per pound”, reports the analyst. In comparison to the same period of one month, the appreciation was 11.11% and, in the accumulated period of one year, it was 56.63%.
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The feather in the FOB export from the port of Santos/SP ended Thursday (19) quoted at 168.13 cents per pound. Compared to the July/22 contract on the New York Stock Exchange, a higher 13.83% was indicated. A week ago, it was higher at 19.1%.
Brazil exported 136 thousand tons of cotton lint in April 2022, totaling revenue of US$ 306.6 million. Despite the volume being 23.2% lower than that recorded in the same month of 2021, revenue rose 1.9% in dollars shipped to the foreign market. The information comes from the Brazilian Association of Cotton Producers (Abrapa).
In April 2022, the biggest buyers of Brazilian cotton were Vietnam and Turkey, totaling 58.7 thousand tons for both destinations – equivalent to 43% of total exports. Compared to April 2021, the biggest drops in imports were recorded by China (-27 thousand tons) and Bangladesh (-15.5 thousand tons). On the other hand, seven countries increased their purchases from Brazil, notably Pakistan (+11.7 thousand tons) and Indonesia (+5.5 thousand tons).
Per: CROP&MARKET
