Data from Secretariat of Foreign Trade at the Ministry of Economy (SECEX/ME) reveals that Brazil has already exported 50.34 thousand tons of cotton in the first five producing days of June. This figure is close to the total exports for the entire month of June 2023, which stood at 60.3 thousand tons.

The daily export average has surged to 10.07 thousand tons, a significant increase from the 2.87 thousand tons per day recorded in June last year, marking a rise of 250.5 per cent. Should this export rate continue, June's total cotton exports are projected to reach 200 thousand tons, setting a new record for the month, CEPEA said in its latest fortnightly report on the Brazilian cotton market.

From August 2023 to mid-June 2024, Brazil has shipped 2.4 million tons of cotton, reflecting a 65.8 per cent increase compared to the same period in the previous season, which saw 1.45 million tons exported.

The domestic market also saw considerable activity in early June, with many players sustaining prices. While some buyers are willing to pay higher prices for premium quality cotton, others continue to negotiate for lower prices. Sellers, for the most part, remained firm on their pricing, though a few were more flexible due to international market fluctuations.

Between May 31 and June 14, the CEPEA/ESALQ cotton Index, with payment due in eight days, dipped slightly by 0.27 per cent, closing at BRL 3.8917 (~$0.72) per pound on June 17.

Fibre2Fashion News Desk (KD)