Brazilian cotton prices reach highest level since April 2011

摘要

Boosted by low supply, cotton prices continued to rise in the Brazilian market in the first fortnight of May. Between 30 April and 15 May, the Center for Advanced Studies on Applied Economics (CEPEA)/ESALQ Cotton Price Index rose 7.1%, closing at S.57S8 BRL (US$0.9764) on 15 May - the highest daily price, in nominal terms, since 14 April, 2011 (3.6246 BRL). During the fortnight, sellers made only a few batches available in the spot market, asking higher prices than bids, which hampered trades.