;
Home / Knowledge / News / Textiles / Higher cotton prices to see slow down in textile consumption
Higher cotton prices to see slow down in textile consumption
02
Feb '08
Cotton futures have continued to consolidate in the 68-69 cent range, basis the New York March contract, while attempting to recoup the limit down losses of January 23. Near term price activity should continue in a consolidation phase with a slightly negative bias simply because of the beginning of the Chinese New Year, a weeklong celebration that will see the closure or slow down of many textile mills.

Absent the New Year celebrations, the price bias would be higher. Thus, pressured by good demand and in the face of a declining acreage, cotton prices remain on a longer term upward path.

Nevertheless, until the planting season in the Northern Hemisphere has concluded, the outside markets, principally the grains, oilseeds, financial and equity markets will likely influence cotton prices more than actual cotton fundamentals. Consequently, the cotton market will continue to face strong price volatility. However, it is the uncertainty surrounding energy and financial markets that seems to be in near term control of cotton.

Export sales for the week ending January 24, while strong, were considerably less than expected, thus proving to be very disappointing to the market.

Net sales totaled 300,700 RB with Upland sales of 291,400 RB and Pima sales of 15,600 RB. Primary buyers of Upland were China (140,800 RB); Taiwan and Vietnam. The primary buyers of Pima were India (5,400 RB); Pakistan and Bangladesh.

Sales of 500,000 to 750,000 RB had been expected. Yet, it is noted that China was a large scale buyer on the market dip below 67.50 cents that week. There is considerable demand waiting any other drop to or near 67.50 cents.


Must ReadView All

Vietnamese garment firms plan to boost exports to Canada

Apparel/Garments | On 11th Dec 2018

Vietnamese garment firms plan to boost exports to Canada

As Vietnam is yet to sign a free trade agreement with Canada, so the...

Courtesy: Alizilla

Textiles | On 11th Dec 2018

Belgium, Alibaba promote inclusive global trade under eWTP

The Belgian Government and China’s Alibaba Group recently announced...

Courtesy: Kai Pilger from Pexels

Textiles | On 11th Dec 2018

India's textile-apparel exports fell slightly in H1 FY19

India’s overall textile and apparel exports in H1 FY19 stood at $18.4 ...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search