Over the period from July 31 to August 30, the CEPEA/ESALQ cotton index (with payment in eight days) recorded a 4.65 per cent decrease, closing at BRL 3.8863 (~$0.69) per pound on August 30.

The 2023-24 cotton crop harvest in Brazil is progressing well. According to National Supply Company (CONAB), by August 25, harvesting activities had been completed in Mato Grosso do Sul, and 76.1 per cent of the total area had been harvested nationwide. In Mato Grosso, Brazil's largest cotton-producing state, dry and warm weather conditions have been favourable for the ongoing harvesting activities, CEPEA said in its latest fortnightly report on the Brazilian cotton market.

In August, Brazilian cotton exports also saw a significant drop. Over the 17 production days, 77.7 thousand tons of cotton were shipped, marking a 53.5 per cent decrease compared to the 167.2 thousand tons exported in August 2023. However, the daily export average slightly increased by 0.77 per cent to 4.57 thousand tons, compared to the 4.54 thousand tons per day in the same month last year, according to data from the Secretariat of Foreign Trade at the Ministry of Economy (SECEX/ME).

Fibre2Fashion News Desk (KD)