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

Decision in UK budget to attract investment in retail: BRC

Textiles | On 24th Nov 2017

Decision in UK budget to attract investment in retail: BRC

British finance minister Philip Hammond’s announcement in his budget...

Courtesy: Shangdong Ruyi

Textiles | On 24th Nov 2017

Shangdong Ruyi to acquire major stake in Bagir

Shangdong Ruyi Technology Group Ltd, one of the leading Asian global...

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Apparel/Garments | On 24th Nov 2017

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a ...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Paolo Ocleppo
Sandvik Hyperion

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

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

Bani Batra

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Yash P. Kotak
Bombay Hemp Company

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

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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