Turkey’s cotton imports break records
Turkey’s cotton imports, which totaled over 610,000 tons last year, have reached record levels with 720,000 tons in the first seven months of 2007 as the price of cotton continues to rise on the commodities exchanges.
Egytex News Desk
Egytex
Fethi اo؛kuntuncel, a member of the Turkish Union of Chambers and Commodities Exchanges (TOBB) board and chairman of the Adana Chamber of Commerce, told the Anatolia news agency on Tuesday that increasing cotton prices are straining the Turkish textile industry. He said the price changes are the result of major cotton producer the US announcing a reduction in Cotton Belt production starting next season. Explaining that cotton is sold at between $1.55 and $1.60 per kilogram in world markets, Turkish textile companies import it for YTL 2.90 per kilogram, اo؛kuntuncel added: “If the increase in cotton prices continues and the dollar price rises, the Turkish textile industry will collapse.”
Source: Today's Zaman
From the Egytex news archive, first published on 22 August 2007. Figures and names are as reported at the time.
