Home / Knowledge / News / Textiles / Demand still coming from all traditional Greek buyers
Demand still coming from all traditional Greek buyers
20
Jul '09
The current crop stocks are getting really limited (about 30,000 tons) and demand is still active. In the beginning of the week buyers were hardly paying ginner's offers, however later on as NY futures remained strong they followed these levels and purchased some quantities.

As a result, during the week several new sales were reported to all usual destinations of Greek cotton. Egyptian spinners and international merchants bought the lower qualities at levels of 60.50 usc/lb FOT. Turkish spinners who were hunting for middling type accepted to pay about 2 usc/lb more in order to cover their nearby needs.

The main reasons for ginners to insist on their asking prices are the following:

-Stocks are limited and in the hands of few and financially strong ginners.
- The usd/eur rate is not in favor of the ginner.
-Strong demand from all channels (direct & indirect).

Regarding new crop sales, we are a bit late compared to previous years. There are still discussions around the levels of 'even' Dec 09 but not any new sale reported. On the one hand merchants look reluctant to buy at these levels and on the other hand ginners know that the new crop will be lower in quantity so they do not want to rush and commit quantities, unless they get a really attractive basis.

The new crop cultivation is developing ideal, in some areas we are a bit late but the good news is that we won't face any irrigation problem this year. Cotton growers are taking good care of their fields as in order to get the 35% of the subsidy they will need to reach a minimum yield on their fields. The cotton acreage should be around 180-190,000 hectares which means that under normal weather conditions our new crop production will reach 185-190,000 tons of lint. Thus the balance sheet for next season will be as follows:

Transferred stocks..............15,000 tons
New crop production............185,000 tons
Domestic consumption............35,000 tons
New crop sales...................7,000 tons
--------------------------------------------------
Balance for exports............158,000 tons

Thrakika Ekkokistiria S.A.


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Rikesh Mistry

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

Nitesh Mittal

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

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

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

Marcel Alberts
Eurofibers

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

Aditi Somani
Aditi Somani

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

Ritu Kumar
Label Ritu Kumar

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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


June 2018

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

news category


Related Categories:

Advanced Search