Home / Knowledge / News / Textiles / Ginners asking high prices amidst slumping USD
Ginners asking high prices amidst slumping USD
22
Dec '08
The eur / usd rate has been the key factor of this week. When the rate was at levels of 1,25-1,30 ginners were able of offering at more attractive levels while today (1,4250) they are obliged to ask higher levels (above 50 c/lb for the after rain quantities). As a result there was a lack of new sales to all traditional clients of Greek crop.

Turkish mills are keeping an eye on our market but without following ginner's offers while Egyptian buyers are loading some crop 08/09 recent purchases. At the same time there is some demand from Far East markets for the middling quality but their bids are not attractive to sellers.

Calculating the status of our crop, below you will find the 'balance sheet' of crop 08/09 as per December 08.

Dec 08 Greek cotton status :
Greek Cotton - 08/09
Production: 240.000
Unsold Stocks 07/08 : 20.000
Import : -
Total Supply: 260.000
Local Consumption: 40.000
Net Surplus For Export: 220.000
Sales 08/09 - 30.000
Balance For Exports - 190.000

We should of course bear in mind that several purchases of merchants are under the option to deliver either 07/08 or 08/09 crop, which means that the above figures of 'old crop unsold' and 'sales 08/09' could change accordingly.

Lastly, as we are getting in the period of wheat plantings, it is more likely that next season 09/10 we are going to have one more drop in acreage by about 15% (about 200,000 he.). The biggest drop this year seems to be in Thessaly area while in other areas it is possible that farmers will turn their cultivations from corn to cotton.

Thrakika Ekkokistiria S.A.


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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:
July 2017

July 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