Cotton prices in Brazil dropped below BRL 4 (approximately $0.71) per pound by the end of August this year as availability increased in the domestic market while prices in the international market declined.
On Aug 25, the National Supply Company (CONAB) had completed cotton harvesting in 76.1 per cent of the total area harvested nationwide. Favorable dry and warm weather conditions supported harvesting activities in Mato Grosso, Brazil's largest cotton-producing state, according to the latest bi-weekly report by CEPEA.
However, Brazil’s cotton exports declined by 53.5 per cent to 77.7,000 tons in August 2024 as compared to the 167.2,000 tons exported in August 2023. Despite this, the daily export average slightly increased by 0.77 per cent to 4.57,000 tons, compared to 4.54,000 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).
