Home / Knowledge / News / Textiles / Ginning & spinning mills in a bad shape
Ginning & spinning mills in a bad shape
28
May '11
In spite of the NY futures recovery in the beginning of the week, physical demand is almost dead. Current crop stocks (slightly higher than 5,000 tons) are being offered at about 170 usc/lb FOT but buyers are hardly following. Quantities are very limited so ginners are not anxious to sell shortly.

New crop business is also very slow as basis and fix prices keep falling. International merchants have chosen to work with fewer and selected suppliers, but these suppliers have already sold part of their new production and are not feeling comfortable to commit now more. Additionally, the declining basis has not been digested by ginners. Therefore ginners are asking levels of at least 15 c/lb on Dec 11 and merchants are focusing on alternative crops with better basis.

Meantime, the well known Greek economic crisis is bringing several changes to our sector. Banks have become tougher with credit lines and there is a lot of debate on the survival of cooperatives who used to be supported by them. Also several private ginning firms will not get the credits that they used to get in the past; therefore it is more than likely that they will start selling slowly their cotton from the beginning of the ginning season.

Unfortunately, domestic spinning mills are also in a bad shape. A major spinner has decided to stop the operations of one unit while other big players are said to be having financial difficulties.

The only optimistic thing right now is the new crop status. According to cotton seed companies the acreage that will be professionally cultivated is about 290,000 hectares(100,000 hectares higher than last season) while the ministry of Agriculture will most likely announce a higher figure (about 310,000 hectares). Replanting percentage was not higher than previous seasons and the weather conditions are forecasted to become stable. It seems so far that the crop is a bit late due to rainfalls and lower than usual temperatures.

Hecot S.A.


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Ravindra Jain, Ashish Baid

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

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

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

Pranav Mishra
Huemn

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

Judy Frater
Somaiya Kala Vidya

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

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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