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

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

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

Ritu Kumar
Label Ritu Kumar

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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