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CIF Bremen Cotton Index passes one-dollar-mark
14
Mar '14
Technical reasons and rising interest to invest in cotton seemed to cause the movements on the futures market. 
 
The quotations on the European market were also influenced by better than expected shipping data from the world’s major exporter U.S. and the prospects of limited availability up to the new crop.
 
After a period of sideward movement, the CIF Bremen Index has now passed the one-dollar-mark and stayed there. Contract agreements were difficult in this situation. The spinning industries purchased as much as necessary for the running production as well as for hedging prices for the time period about the company holidays in summer. 
 
Contract prices in Euro were preferred because of the favourable exchange rate. Prices for Long and Extra-Long Staple cotton remained stable. Opposite to the previous week these qualities were in demand again, but covered for manageable periods only.
 
Contracts were concluded for:
-Medium Staple Cotton: Central Asia and West Africa for prompt and the 2nd quarter 2014. East Africa for the 3rd quarter 2014.
-Long- and Extra-Long Staple cotton: US Pima and Israel Pima for prompt delivery. Giza 86 and US Calif. SJV Acala rgd. For the 2nd quarter 2014.
 

Bremen Cotton Index


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