11月巴西市场棉价振荡

Cotton prices oscillate in Brazilian market in November

Cotton prices oscillated slightly in the Brazilian market in the first fortnight of November, the Center for Advanced Studies on Applied Economics (CEPEA) said in its fortnightly report. Some traders were active, lowering asking prices, resulting in the CEPEA/ESALQ Index dropped 0.6 per cent since October 31, closing at 2.3940 BRL per pound on November 14.

“While purchasers were cautious to increase bidding prices, both growers and trading companies were firm in terms of asking prices. Thus, when processors needed the product, they had to be more flexible in order to acquire new batches, mainly involving high quality cotton – most batches had lower quality and were heterogeneous,” the CEPEA report said.

Other sellers, in turn, were attentive to the deliveries scheduled for November, both for the domestic and the international markets.

Processors have scheduled cotton deliveries for late 2017 and the first semester of 2018. Besides, agents have been trading cotton from the new season as well 2017-18. So, some growers were focused on both the exportation pace of previously closed contracts and field activities.

Meanwhile, data released by National Company for Food Supply (Conab) on November 9 estimate the area under cotton cultivation to increase between 6 per cent and 15.8 per cent in the 2017-18 crop, increasing production to something between 1.61 and 1.76 million tons, from 5.5 per cent to 15.3 per cent up compared to the 2016-17 crop. The average productivity is expected to be at 1,622 kilos per hectare, a slight 0.4 per cent down compared to the previous season.

In Bahia, area under cotton may increase from 245 to 271 hectares, 21.8 per cent to 34.6 per cent up compared to the 2016-17 crop.

译文如下：

11月巴西市场棉价振荡

应用经济学高级研究中心(CEPEA)在其半月刊的报告中称，在11月的前两周，巴西市场棉花价格略有波动。一些贸易商活跃，降低了要价，导致CEPEA / ESALQ指数自10月31日以来下跌0.6%，在11月14日收于2.3940 雷亚尔。

“尽管购买者对提高投标价格持谨慎态度，但无论是种植者还是贸易公司，都对价格提出了严格要求。因此，当处理者需要产品时，他们必须更加灵活，以获得新的批次，主要涉及高质量的棉花——大多数批次的质量较低，而且是异质的，”CEPEA报告称。

其他卖家则对定于11月交付的货物都很关注，无论是国内市场还是国际市场。

处理者计划在2017年底和2018年上半年交付棉花。此外，从2017 - 2018棉季开始，代理人也一直在交易棉花。因此，一些种植者把注意力集中在先前封闭的合同和实地活动的出口速度上。

同时,通过国家食品供应公司11月9日发布的数据，2017-2018作物季，估计棉花种植面积增加至6%-15.8%之间，产量增加介于1.61和176万吨之间，2016-2017作物年是从5.5%到15.3%。平均生产率预计将达到每公顷1,622公斤，比上一季低0.4%。

在巴伊亚，棉花种植面积可能从245公顷增加到271公顷，比2016 - 17年的收成增长21.8%。