Home / Knowledge / News / Textiles / Cotton prices reduce sharply
Cotton prices reduce sharply
03
Dec '11
The serious need for cash flow on behalf of several ginners (especially the defaulters) in combination with the lack of demand for Hecot cotton crop has squeezed a lot our prices and brought, in some cases, special offers that are valid only for immediate payment and shipment. Due to the well known problems of our economy, banks are not able of supporting ginners as they used to do in the past and therefore many ginning firms or cooperatives are obliged to lower seriously their offers.

As a result during the week several new business were reported ranging between 82-88 usc/lb FOT depending on quality and shipments. In addition few ginners preferred to sell on call at basis of about 400-500 off March hoping that the market will give them an opportunity to fix at better levels. It is true that so far the on call contracts have given better prices compared to the fix ones. Buyers were international merchant who are trying to take advantage of this correction and sell to Far East and as usual few Turkish spinners.

Even though the usd is getting favorable for ginners these price levels are well below their production cost. There is a belief in our market that serious losses of current season will not be easily over passed and this may change our ginning sector radically.

Calculating a tolerance of 3% the status of our crop is as follows:

CROP - 11 / 12
PRODUCTION 290.000
SALES / EXPORTS 90.000
CONSUMPTION 15.000
BALANCE FOR EXPORTS 185.000

Hecot S.A


Must ReadView All

Apparel/Garments | On 24th Jun 2017

JD enters into strategic partnership with Farfetch

E-commerce giant, JD, China's largest retailer, and Farfetch, the...

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search