Home / Knowledge / News / Textiles / Dubai Cotton Center to start operations in April
Dubai Cotton Center to start operations in April
11
Apr '09
After a three-month delay due to economic uncertainty, the Dubai Cotton Center (DCC) is planning to start operations during the third week of April. DCC will be a redistributions and trading post for cotton from Uzbekistan on the way to Asia. It would be helpful, since it will save shipping time up to 40 days, since the cotton will be stored in Dubai.

Currently, for Asian importers, Uzbek cotton is transported via rail to the Iranian port of Bander Abbas from where the consignments to Asia are often subject to delays. It will take just seven to ten days to ship the cotton to the majority of Asian countries if cotton is stored in Dubai.

Cotton to be traded at DCC will be brought directly through shipping vessels from Bander Abbas to Dubai for storage. Trading arm DCC is a fully owned subsidiary of the Dubai Multi Commodities (DMCC). This trading arm has made an import deal with Uzprommashimpeks (UPM) to supply cotton to DCC. UPM is one of the largest cotton exporters in Uzbekistan.

Decrease in the global cotton demand due to economic crises has lowered down the expectations of the volume of trade DCC it expected to do at the new center. For the season ending in September, the DCC has cut its trading target by 25-30 percent to 50,000-60,000 metric tons.

According to the officials of DCC, the numbers would be revised in case of further decrease in cotton demands. Due to economic crises, general cotton trading is experiencing uncertainty as demands for textiles decreased with disposable or non-refundable income.

In coming days DCC will be selling cotton at around 50 cents per pound which is considered a benchmark price, but, DCC will increase the prices to improve margins as soon as cotton demand improves. DMCC is in talks with World's largest marine terminal operators, DP World with regards to creating storage facility for cotton. They may also start future contracts for cotton.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search