Home / Knowledge / News / Textiles / Daily worldwide cotton market report
Daily worldwide cotton market report
20
May '09
Last night in New York futures market, July 09 closed at 56.22 with a loss of 133 points the volume traded was 8917 contracts, the October 09 closed at 58.52 with a loss of 110 points with a traded volume of 110 contracts, while the December 09 closed at 59.48 with a loss of 90 points with a volume of 3312 contracts traded under the December cover. The cotlook A index declared settled at 62.10 with a gain of 120 points today.

The spot rate of KCA remained firm and strong with the settlement declared at Rs. 3750/=, with no changes today. In the domestic market today 600 bales of Khipro sold at Rs. 3500/=, 300 bales of Sanghar sold at Rs. 3500/=, 200 bales of Odero Lal changed hands at Rs. 3500/=, 1400 bales of Rahim Yar Khan sold on credit at Rs. 3900/=, 1000 bales of Chani Goth sold at Rs. 3725/=, 330 bales of Bahawal Pur sold at Rs. 3700/=, and 100 bales of Rahim Yar Khan sold at Rs. 3700/=.

The USDA reported that as of May 17th, U.S. cotton plantings were 42% complete versus 53% on average. Mississippi was 52% complete versus 75% on average. South Carolina was 38% complete versus 60% on average and Alabama was 47% complete versus 71% on average.

The president of the World Bank, Robert Zoellick, said that the pace in decline of global growth is easing and that growth could come back later this year. There is still some uncertainty surrounding this prediction because the hard hit Central and Eastern European countries will foreign investment dry up. However, China may beat growth estimates after moving quickly to stimulate their own demand.

The China Cotton Association conducted a survey in late April that indicated that cotton planted area may decline by around 12.38% from the 08/09 season, to 77.5 million mu. In March, the Association forecast a steeper reduction of 14%. According to the article, the survey results show that recent increases in price have influenced farmers to favor cotton. Also, spring weather for sowing cotton has been favorable overall and good progress ahs been made.

"Encouragement to plant alternative crops and the relatively high cost of cotton cultivation have influenced over half of the cotton growers interviewed to reduce area. However, 20 percent believe that government policies will play a positive role and foresee that demand will gradually pick up, so they have increased their plantings to cotton. About 26 percent have sown a similar area to last year."

Mr. Xu Wenying, president of the China Cotton Textile Association, has called for the state reserves to be released to the market at lower prices, in order to ease the pressures the industry is facing right now, according to a report from China Textile News. Mr. Xu has suggested setting selling prices at 11,000 to 11,600 yuan per ton, levels that would be affordable to mills, despite the fact that reserves were procured at 12,600 yuan per ton (basis Grade 3).

Ghulam Rabbani & Co.


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Suresh Patel
Sidwin Fabric

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

Eamonn Tighe
Nature Works LLC

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

Larry L Kinn
Suominen Corporation

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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