Brazil'S Cotton Exports Bloom Everywhere, Demand For New Cotton Remains Strong
In April this year, Brazil's cotton exports reached 177000 tons, and a large number of them were exported to various major markets, including 37400 tons to China, 36800 tons to Vietnam, 32900 tons to Bangladesh and 29800 tons to Turkey. In addition, Pakistan, Malaysia and Thailand also reached 9300 tons, 5900 tons and 17000 tons respectively.
At present, the market is still concerned about the weather changes in Brazil. Due to the continuous lack of rainfall in Mato Grosso, the market is worried about the decline of cotton yield this year. Weather forecasts show no rain in the state in the near future. Due to the drought, this year's corn production forecast has been reduced to 90 million tons, the domestic corn price has exceeded 8 US dollars / bushel, and the standard grade cotton spot 42-4-35 once rose to an annual high of 99.15 cents / pound.
In the past week, Brazil's 2021 new flowers have been sold all over the country, and the loading period in September and beyond is very popular. The delay in American cotton planting and tight supply make Brazilian cotton more popular. At present, the price of Brazilian m 1-1 / 8 cotton is similar to that of American cotton, and there is a Brazilian cotton quotation in 2022, and there is an on call deal.
(source: China cotton net)
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