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Cheap Greecian cotton hits hard domestic produce
09 Jun '06
1 min read
Cheaper cotton from Greece has dented the domestic Turkish domestic cotton market.
On the Izmir Trade Bourse (ITB), cotton trade dropped to just 30 tons from last week's 245 tons, registering a 120 percent drop.
Cotton from Greece is sold for 2.07 lira per kg lower than the prevailing price of Turkish cotton.
Standard-1 cotton price has gone up from last week's price pegged at 2.01 lira.
Though country's cotton market is fast eroding, this has not deterred local cotton manufacturers to remain optimistic for better times to come as lira is weakening against global currencies rendering Turkish textile goods exports cheaper, in international markets.
On the Izmir Trade Bourse (ITB), cotton trade dropped to just 30 tons from last week's 245 tons, registering a 120 percent drop.
Cotton from Greece is sold for 2.07 lira per kg lower than the prevailing price of Turkish cotton.
Standard-1 cotton price has gone up from last week's price pegged at 2.01 lira.
Though country's cotton market is fast eroding, this has not deterred local cotton manufacturers to remain optimistic for better times to come as lira is weakening against global currencies rendering Turkish textile goods exports cheaper, in international markets.
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