Cotton prices have kept the downward trend in the Brazilian market in the first fortnight of August, because of the higher supply. Harvesting activities were in full swing, as well as the cotton ginning, which increased the interest of producers to close new trades. Cotton growers were trying to take advantage of the current price levels to make cash flow to cover liabilities.
Between July 29 to August 15, the CEPEA/ESALQ Index for cotton type 41-4 (delivered in São Paulo city, payment in 8 days) moved down 4.8%, to close at 1.7238 real or 1.0841 dollar per pound on Aug. 15.
