May '11
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
Textiles | On 18th Oct 2017
Sutlej Textiles adds American Silk Mills to its portfolio
Sutlej Textiles and Industries Ltd (STIL) has announced the...
Apparel/Garments | On 18th Oct 2017
Arvind to set up mega apparel facility in Gujarat
Arvind Limited, one of India’s largest textile to retail...
Textiles | On 18th Oct 2017
Cotton stocks accumulating everywhere outside of China
Global cotton stocks outside of China are expected to rise by nearly...
Interviews View All
C. Dhandayuthapani
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
Manuj Terapanthi
Texaura
Transparent supply chain and fair trade will boost sustainable market
Frank Gossmann
Rotorcraft AG
‘RT3 motto is: Do not check millimetres, check colours.’
Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...
<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...
Idealin Fogging Systems has been engaged in designing and manufacturing...
Mohammad Hassan
Biax Fiberfilm
About one in every 20 patients picks up an infection while hospitalised....
Giorgio Mantovani
Corman S.p.A
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Ashok Desai
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Divvya and Nidhhi Gambhir
Walnut
<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...
Judy Frater
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
Anisha Chaudhari
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
Recommended
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 67
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 67
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 67
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?
YesTotal Votes: 67
E-News Insight
Latest News Update in Your Mail Box.
