Interviews
Global cotton prices correct – Bremen
16 Mar '12
1 min read
Bremen CIF Index reports that after two days of price increases at the ICE because of the Indian export bans the quotations of the Cotlook as well as the Bremen CIF Index were moving close to the previous level again. The basic situation of a statistically good supply situation, high or rising inventories and not satisfying demand of the major textile importers U.S. and Europe remained unchanged.
The impact on export prices induced by the decisions of the Indian government clearing the local and international protests against the ban were not yet foreseeable, therefore the manufacturing industry on the local market waited and covered short-term needs only.
In the medium staple range turnovers were reported of Central Asian, West African and Argentinean cotton for prompt and the 2nd quarter 2012. Greek cotton was already sold for the 4th quarter 2012.
Extra-long staple and long staple cotton like Giza 88, Giza 86 and Spanish descriptions were agreed for prompt delivery.
The impact on export prices induced by the decisions of the Indian government clearing the local and international protests against the ban were not yet foreseeable, therefore the manufacturing industry on the local market waited and covered short-term needs only.
In the medium staple range turnovers were reported of Central Asian, West African and Argentinean cotton for prompt and the 2nd quarter 2012. Greek cotton was already sold for the 4th quarter 2012.
Extra-long staple and long staple cotton like Giza 88, Giza 86 and Spanish descriptions were agreed for prompt delivery.
Bremen CIF Index
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