Brazil cotton prices ease in early July amid record harvest hopes
According to the CEPEA/ESALQ Index, Brazilian cotton prices dipped by 0.32 per cent between June 30 and July 15, settling at BRL 4.1324 (~$0.74) per pound on July 15, CEPEA said in its latest fortnightly report on the Brazilian cotton market.
Brazilian cotton prices fell 0.32 per cent between June 30 and July 15 despite firm global demand, as the 2024â€'25 harvest progresses towards a potential record 3.938 million tons. The price gap with global markets narrowed. As of July 12, 13.6 per cent of the area was harvested. USDA forecasts 2025â€'26 global production at 25.783 million tons, closely matching consumption.
The decline coincides with updated projections from National Supply Company (CONAB) (July 10), which now pegs Brazil's 2024-25 cotton output at 3.938 million tons—an increase of 0.65 per cent from June's estimate and 6.4 per cent above the 2023-24 season. The planted area is projected at 2.084 million hectares, up 0.11 per cent month-on-month and 7.2 per cent year-on-year. Productivity is forecast at 1,890 kg/ha, 0.7 per cent lower than last season, but 0.53 per cent higher than June's forecast.
As of July 12, harvest progress reached 13.6 per cent of the planted area, below the five-year average of 19.2 per cent for the same period.
Globally, USDA's July 11 report forecasts 2025-26 world cotton production at 25.783 million tons—up 1.2 per cent from the previous month but 1.2 per cent lower than 2024-25 levels. Global consumption is expected to reach 25.718 million tons, reflecting increases of 1.2 per cent month-on-month and 0.3 per cent year-on-year. This would leave global consumption just 0.3 per cent short of overall supply in the 2025-26 season, signalling a near-balanced market.
Fibre2Fashion News Desk (KD)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Ontario Doubles Down on ‘Buy Canada' Message as Angry Residents Boycott US
(Bloomberg) -- Ontario Premier Doug Ford renewed a call to buy 'Canadian-made everything' to heap pressure on the US to negotiate a trade deal and lift tariffs. Ford, who leads Canada's biggest province and is hosting a meeting of premiers this week, said the country should lean into its status as America's biggest customer. Prime Minister Mark Carney will make an appearance at the conference on Tuesday for a huddle with the provincial leaders. Carney is sending Dominic LeBlanc, the minister responsible for Canada-US trade, to Washington this week to negotiate with US President Donald Trump's administration, which has threatened a 35% tariff on some Canadian goods if there's no deal by Trump's Aug. 1 deadline. But the president and his officials have sent mixed signals about whether they want to sign agreements or simply proceed with unilateral tariff rates on trading partners. 'We're encouraging all provinces and territories: start buying Canadian-made vehicles, start buying Canadian-made everything — that will hurt more than anything at all,' Ford told reporters on Monday as he arrived at Deerhurst Resort near Huntsville, a picturesque town at the heart of Ontario's Muskoka region. Canadians say they're ramping up their boycott of US travel and products in response to the tariffs, according to the Bank of Canada's quarterly survey of households released Monday. About 55% of respondents said they're spending less on vacations to US destinations, and roughly 63% said they're pulling back on purchases of American goods. 'We're their number one customer. We buy more products from the US than Japan, China, Korea, the UK and France combined. So we are an economic powerhouse and we don't have to take a back seat to anyone,' he said, adding he wants his province to begin making products such as steel beams used in construction and aluminum cans for soda and beer. Trump hiked tariffs on foreign steel and aluminum imports to 50% in June. Canada's steel industry has already cut jobs and seen shipments slashed. Carney's government announced a plan last week to curb imports of foreign steel to help domestic producers — though one influential steel executive said it doesn't go nearly far enough. Ford's government pledged C$1.3 billion ($950 million) in May to help manufacturers by beefing up a tax credit for Ontario-made products. The government says about 830,000 people in the province work in manufacturing, which represents about 10% of jobs. Canada's premiers have largely struck a united front in the face of Trump's trade war, and their summer retreat is set to be dominated by discussions on how to increase trade between the provinces and advance major infrastructure projects, such as ports, to bolster the country's economic independence. Carney and some provincial leaders appeared resigned to at least some level of tariffs on Canadian shipments to the US, despite the existing trade accord that Trump signed in his first term that largely allows tariff-free trade between the US, Mexico and Canada. The prime minister said last week there's little evidence Trump will cut a deal that completely drops tariffs. Arriving at the resort on Monday, Alberta Premier Danielle Smith said she hopes sector-specific tariffs will be minimized as much as possible, while Quebec's Francois Legault said it's too soon to say whether it's inevitable that some tariffs remain. 'We'll see what we can get on August 1st. Of course, the ideal situation would be no tariffs,' Legault told reporters. Whatever the agreement is, he said, 'we need to have assurance that we'll keep this agreement for three, five years. We need to have an economy where the companies know what's happening in six months and 12 months from now.' More stories like this are available on
Indian Express
4 hours ago
- Indian Express
Trump, Xi aides discussed autumn US-China leaders' meeting, sources say
Aides to Donald Trump and Chinese leader Xi Jinping have discussed a potential meeting between the leaders during a trip by the US president to Asia later this year, according to two people familiar with the plans. While plans for a meeting have not been finalized, discussions on both sides of the Pacific have included a possible Trump stopover around the time of the Asia-Pacific Economic Cooperation summit in South Korea or talks on the sidelines of the October 30-November 1 event, the people said. Trump has sought to lower tensions with Beijing in recent weeks after pausing a tit-for-tat tariff war that has upended global trade and supply chains. China has also sought the attendance of international guests, including some from the United States, for a September 3 Beijing ceremony commemorating the 80th anniversary of the end of World War Two, said a spokesperson for China's embassy in Washington in a briefing last week for reporters. The Kremlin said on Monday it did not rule out the possibility of Russian President Vladimir Putin and Trump meeting in Beijing in September if Trump decides to attend that ceremony. Putin has confirmed his attendance. 'Diplomacy between heads of state plays an irreplaceable strategic leading role in Sino-US relations,' said Chinese Foreign Affairs Ministry spokesperson Guo Jiakun on Monday, declining to comment on a possible Trump-Xi meeting. The White House declined to comment. US Treasury Secretary Scott Bessent said on Monday there would be 'talks in the very near future' between the countries. 'Trade is in a good place, and I think now we can start talking about other things. The Chinese, unfortunately … are very large purchasers of sanctioned Iranian oil, sanctioned Russian oil,' he told CNBC. He added: 'We could also discuss the elephant in the room, which is this great rebalancing that the Chinese need to do.' Trump has sought to impose tariffs on virtually all foreign goods, which he says will stimulate domestic manufacturing and which critics say will make many consumer goods more expensive for Americans. He has called for a universal base tariff rate of 10% on goods imported from all countries, with higher rates for imports from some, including China. Imports from China have the highest tariff rate of 55%. Trump has set a deadline of August 12 for the US and China to reach a durable tariff agreement. Other points of friction between the countries include China's support for Russia, trade in fentanyl-related chemicals, regional security worries, and exit bans on some American residents. The most recent high-level US-China meeting was on July 11, when US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi had what both described as a productive and positive meeting in Malaysia about how trade negotiations should proceed. Rubio said then that Trump had been invited to China to meet with Xi, and said that both leaders 'want it to happen.' On Friday, China Commerce Minister Wang Wentao said China wants to bring its trade ties with the U.S. back to a stable footing and that recent talks in Europe showed there was no need for a tariff war.
&w=3840&q=100)
Business Standard
6 hours ago
- Business Standard
India, US seek to futureproof trade agreement amid tax and tariff concerns
Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax premium Asit Ranjan Mishra Listen to This Article The US is pressing India to commit to not reintroducing the so-called 'Google tax', while New Delhi is seeking protection from potential future tariffs on pharmaceutical exports as part of the ongoing trade-deal negotiations. Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax. The move, announced in March, was aimed at sending a positive signal to US President Donald Trump, who had threatened reciprocal tariffs on high-tariff nations. Apart from Google, the decision also benefited other US-based tech majors, such as Meta and X (formerly
