The IMEA (Mato Grosso Institute of Agricultural Economics) indicator for cotton lint in Mato Grosso fell again and closed the previous week at R$ 123.39/@. Cottonseed fell 0.27% to R$665.56/tonne. Cotton cake fell 0.36% and the average fell to R$770.25/ton.
Last week, export parity prices for July and December this year, in Mato Grosso, closed at an average of R$ 128.44/@ and R$ 126.05/@, a drop of 4.59% and 2. 75% compared to the previous week, respectively. When compared to prices from the same period last year, they are even lower, with a decline of 7.20% and 9.94%, in that order.
The downward movement in parity prices is mainly a reflection of the decrease in the prices of cotton contracts for July and December this year, on the New York Stock Exchange (Ice). The drop in Ice futures prices has been influenced by uncertainties regarding global demand for the fiber, mainly motivated by the unfavorable macroeconomic situation at the moment, concludes IMEA, in the weekly cotton bulletin.
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