Cotton seed market is warming up
14
Apr '08
Apr '08
Lack of new sales mostly caused by the weakening dollar.
There is not much activity lately on the Greek market. Ginners are very much influenced by the falling dollar and are asking for levels which seem to be on the high side (even July 08). Unfortunately these levels can't be followed by potential buyers and as a result we hardly heard of any new business concluded.
Turkish spinners are just asking for prices - inquiries but without any serious feedback. International merchants are still focused liquidating their positions however are expected to enter again our market shortly both on current and new crop. There are some rumors of Egyptian demand and possible new sales which are not yet confirmed.
As a result stocks are on a career high for this month of the year reaching almost the 150,000 of lint. There are several thoughts of keeping these stocks for the next season that we will have a reduction in cotton production.
As we are getting close to the cultivation period, the cotton seed market is warming up. Combining several sources it looks that we are going to have about 260,000 'seriously cultivated' hectares of cotton cultivation.
Under normal weather conditions this acreage may result to about 260-270,000 tons of lint. Of course it is too early to estimate production and right now we only make a guess.
Price wise as explained ginner's asking levels remain at the 'even' July for the pre-rain quality. However, there are some cases where offers can 1-2 c/lb lower due to cash flow reasons or lower quality.
In general the lack of buying mood and the absence of serious business reported gives a clear negotiating advantage to the buyers at this point.
There is not much activity lately on the Greek market. Ginners are very much influenced by the falling dollar and are asking for levels which seem to be on the high side (even July 08). Unfortunately these levels can't be followed by potential buyers and as a result we hardly heard of any new business concluded.
Turkish spinners are just asking for prices - inquiries but without any serious feedback. International merchants are still focused liquidating their positions however are expected to enter again our market shortly both on current and new crop. There are some rumors of Egyptian demand and possible new sales which are not yet confirmed.
As a result stocks are on a career high for this month of the year reaching almost the 150,000 of lint. There are several thoughts of keeping these stocks for the next season that we will have a reduction in cotton production.
As we are getting close to the cultivation period, the cotton seed market is warming up. Combining several sources it looks that we are going to have about 260,000 'seriously cultivated' hectares of cotton cultivation.
Under normal weather conditions this acreage may result to about 260-270,000 tons of lint. Of course it is too early to estimate production and right now we only make a guess.
Price wise as explained ginner's asking levels remain at the 'even' July for the pre-rain quality. However, there are some cases where offers can 1-2 c/lb lower due to cash flow reasons or lower quality.
In general the lack of buying mood and the absence of serious business reported gives a clear negotiating advantage to the buyers at this point.
Thrakika Ekkokistiria S.A.
Must ReadView All
Textiles | On 10th Dec 2018
Global yarn production up in Q2/18; fabric dips slightly
Global yarn production increased by 5 per cent between Q1/18 and...
Textiles | On 10th Dec 2018
Intertextile Shanghai Home expects 200 suppliers
Around 200 suppliers from China and other countries will display...
Textiles | On 10th Dec 2018
Over 50 Indian firms eyeing operations in UAE's RAKEZ
Over 50 Indian firms are interested in expanding operations in Ras Al ...
Interviews View All
Asim Dalal
Indo Count Retail Ventures
Today, there is no other emerging market as India, "we make in India and...
Subhashini Srinivasan
The S Studio
Ethnicwear market will see an upward trend if uniqueness and quality are...
Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar
‘Blending cultures is the true beauty of fashion, where one’s imagination...
Germany-based Textechno is one of the leading manufacturers of testing...
<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...
No Nasties was the first fashion brand in India to make 100 per cent...
Alfonso Marra
Klopman
It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...
Razvan Popescu
Directa Plus SpA
Directa Plus is one of the largest producers and suppliers worldwide of...
Eamonn Tighe
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...
Anisha Chaudhari
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
Rupa Sood and Sharan Apparao
Nayaab
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Karan Arora
Karan Arora
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Leave your Comments
Recommended
Want to know what happened in the textile world this week? Watch now!
news category
Related Categories:
