2月份巴西棉花价格下跌了0.35%

Brazilian cotton prices drop 0.35% in February
The Center for Advanced Studies on Applied Economics (CEPEA)/ESALQcottonIndex, with payment in 8 days, dropped 0.35 per cent between January 31 and February 28 to close at 2.9318 BRL per pound at the end of the month. The averagepricein February was 2.9341 BRL per pound, 0.96 per cent lower compared to the previous month, in real terms.
Prices oscillated and liquidity decreased in the market during the month due to the fierce competition between the Brazilian agents, CEPEA said in its latest fortnightlyreporton the domestic cotton market.
“Part of the active purchasers was searching for high quality batches, but bidding prices were lower than asking prices. Other purchasers, however, accepted lower quality cotton. Some processors, in turn, stayed out of the market during the entire month,” the CEPEA report said.
According to data from the BBM (Brazilian Commodity Exchange) tabulated by CEPEA, 67.5 per cent of the 2017-18 Brazilian crop, estimated at 2.005 million tons, may have been traded until February 28. Of that total, 57.7 per cent was bought for use in the domestic market, 30.9 per cent for export to the international market, and 11.3 per cent to flex contracts (exports with an option to sell in the Brazilian market).
For the coming season, at least 22.3 per cent of the 2018-19 production (forecast at 2.564 million tons by Conab – National Company for Food Supply) may have been traded in the same period, with 47.5 per cent allocated to the domestic market, 26.4 per cent to exports, and 26.1 per cent to flex contracts.
译文如下：
2月份巴西棉花价格下跌了0.35%
应用经济学高级研究中心(CEPEA)/ESALQ棉花指数在1月31日至2月28日期间下跌0.35%，收于每磅2.9318 雷亚尔。2月份的平均价格为每磅2.9341 雷亚尔，按实际价格计算比上月下降了0.96%。
CEPEA在其关于国内棉花市场的最新半月刊报告中表示，由于巴西代理商之间的激烈竞争，本月棉花价格出现波动，市场流动性下降。
“部分活跃的买家在寻找高质量的批次，但投标价格低于要价。然而，其他买家接受了质量较低的棉花。而一些加工商则在整个月都没有进入市场。”CEPEA 报告称。
根据CEPEA提供的巴西商品交易所(BBM)的数据，2017-2018年巴西农作物中，有67.5%(估计为200.5万吨)的交易可能会持续到2月28日。其中，57.7%用于国内市场，30.9%用于出口国际市场，11.3%用于弹性合同(出口产品可在巴西市场销售)。
为即将到来的棉季，2018-2019年度至少22.3%的产量(国家食品供应公司，预计为256.4万吨)可能是在同一时期，交易的47.5%分配给国内市场，26.4%用于出口，26.1% 用于弹性合同。