While Cotton prices Fibers are rising worldwide : <br> Egyptian Cotton Fibers Prices are still Stable
In Egypt, cotton prices were unchanged till February 7th with Extra long staple Giza 70 at 142.25 cents/lb and Giza 88 137.25 cents/lb. Meanwhile, the long staple Giza 86 is 130.25 cents/lb. The American Pima cotton price is 136 cents/lb.
Egytex News Desk
Egytex
The Egyptian cotton exports commitments reached 69,011 Tons in the period from 20/10/2003 to 7/2/2004.
The commitment percentage for G70 (Extra long Staple) reached 15,682 Tons with percentage of 22.72% of the total commitments.
The commitment percentage for G88 (Extra long Staple) reached 11560 Tons with percentage of 16.75% of the total commitments.
While G86 (Long Staple) reached 41,056 Tons with percentage of 59.49% which the highest percentage of total commitments.
The number of countries importing Egyptian cotton reached 24 countries till 7/2/2004.
The main three countries are :
1 – Switzerland: 14,748 Tons with percentage of 21.37% of total commitments.
2 – Italy: 9,200 K Tons with percentage of 13.33% of total commitments.
3 - India: 9,095 Tons with percentage of 13.18% of total commitments.In the short term, China domestic prices continue rising, ignoring the recent fall in New York futures and the international market. The gap between Chinese prices and the A Index further widened in the past two weeks, now reaching about 1,700 to 1,800 yuan per ton (21 to 22 cents per kilo, delivered mill price, VAT included).
Cotton stocks at Chinese mills are very low, in addition, forcing buyers to order more cotton ahead of a seasonal peak.
Prices remained unchanged or slightly declined in India in the week to February 4th, in line with the fall in US futures.
Exports could decline since India export prices are now less competitive compared with other origins of similar qualities.
Domestic prices could remain at the level of about 24,000 rupees per candy (63.22 cents per pound) but would not rise above, last week said to Dow Jones the vice-president of a large cotton mill.
Prices did not change in the past week in Pakistan and in Turkey, partly due to Eid holidays. Buyers are today back to work.
From the Egytex news archive, first published on 12 February 2004. Figures and names are as reported at the time.
