Uncertainty in worldwide cotton markets hampering business
10 Oct '08
1 min read
The turbulent development of the markets world-wide had also distinct effects on sales of raw cotton in the local range during the week under report. Dumping prices for yarns from other markets made it nearly impossible for the local spinners to cover their supply.
The prices for available cotton had not completely taken part in the downtrend of the quotations in New York and consequently large differences gaped between the merchants´ offering prices and the ideas of the buyers. Nevertheless, smaller quantities could be committed until the second quarter 2009.
In the Upland range were turnovers registered in Central Asian sorts for prompt, further in the 4th quarter 2008 and for the 1st quarter 2009; Greek descriptions for loading in the same period of time and West African types as well for dates in the 2nd quarter 2009.
From among the ELS/LS varieties, smaller quantities of Egyptian GIZA 86 and GIZA 88, as well as Sudan Barakat and Israel Pima were traded.
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