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Greek cotton market update
16 Feb '07
1 min read
INA S.A.: Greek Market Update for February 15 2007
Latest Figures
Estimated crop : 320.000 mt
Harvesting percentage : 100 %
Qualities left : 41-4 & 51 1-4
Estimated balance : 100-120.000 tons
Prices
Interest from merchants at the levels of 56-57 cents/lb for 51 cg .
Small demand from Egypt at 56.5 cents/lb
Sales
Total sold : 130.000 mt
Local consumption estimate : 70.000 mt (70-80% covered)
Left for Export after all the above : 100-120.000 tons
No major purchases from merchants were reported lately
Our traditional markets (Turkey – Egypt) are very slow
Although ginners see that they have to sell a percentage of their currents stocks they are very reluctant to large volumes sales and to the prices they are receiving demand
70% of the unfixed basis contracts rolled from Mar 07 to May 07 or July 07
Still no new basis contracts were reported.
Small lots of 200-300 tons are being currently shipped to Egypt.
We are expecting to see another 20-30,000 tons to be forwarded to Egyptian ports.
Some merchants are long of Greek cotton.
Latest Figures
Estimated crop : 320.000 mt
Harvesting percentage : 100 %
Qualities left : 41-4 & 51 1-4
Estimated balance : 100-120.000 tons
Prices
Interest from merchants at the levels of 56-57 cents/lb for 51 cg .
Small demand from Egypt at 56.5 cents/lb
Sales
Total sold : 130.000 mt
Local consumption estimate : 70.000 mt (70-80% covered)
Left for Export after all the above : 100-120.000 tons
No major purchases from merchants were reported lately
Our traditional markets (Turkey – Egypt) are very slow
Although ginners see that they have to sell a percentage of their currents stocks they are very reluctant to large volumes sales and to the prices they are receiving demand
70% of the unfixed basis contracts rolled from Mar 07 to May 07 or July 07
Still no new basis contracts were reported.
Small lots of 200-300 tons are being currently shipped to Egypt.
We are expecting to see another 20-30,000 tons to be forwarded to Egyptian ports.
Some merchants are long of Greek cotton.
Thrakika Ekkokistiria S.A.
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