With the backdrop of global price levels, sellers in Brazil remained steadfast in their pricing strategies. Cotton growers, buoyed by the promising progress of the 2023-24 season, expressed reluctance to sell, citing a lack of immediate need. Conversely, players in the industry actively pursued both short-term and term contracts. Companies with urgent requirements were inclined to offer higher prices, particularly for superior-quality cotton, CEPEA said in its latest fortnightly report on the Brazilian cotton market.
Data from Secretariat of Foreign Trade at the Ministry of Economy (SECEX/ME) revealed a significant surge in Brazilian cotton exports during February. Over a span of 10 working days, exports totalled 146.3 thousand tons, marking an impressive 239 per cent increase compared to February 2023.
Fibre2Fashion News Desk (KD)