While Cotton Prices is rising: <br> Egyptian Cotton Fibers remains the same
In Egypt, cotton prices were unchanged till January 22th 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 67,523 Tons in the period from 20/10/2003 to 24/1/2004.
The commitment percentage for G70 (Extra long Staple) reached 14,756 Tons with percentage of 25.87% of the total commitments.
The commitment percentage for G88 (Extra long Staple) reached 12,074 Tons with percentage of 15.11% of the total commitments.
While G86 (Long Staple) reached 40,016 Tons with percentage of 59.02% which the highest percentage of total commitments.
The number of countries importing Egyptian cotton reached 20 countries till 24/1/2004.
The main three countries are :
1 – Switzerland: 14,369 Tons with percentage of 21.38% of total commitments.
2 – India: 9,383 Tons with percentage of 13.90% of total commitments.
3 - Italy: 9,188 K Tons with percentage of 13.61% of total commitments.
Cotton prices steadily rose in the past week in the United States, India and Pakistan and could further increase when China will be back from its new year holidays. As a result, of lower production than anticipated, New Delhi would have decided banning all cotton shipments to Pakistan.
Cotton Outlook reduced its 2003/04 estimate for global cotton output by 31,000 tons to 19.86 tons reflecting further decline in production prospects in India, but the overall loss was pared by better prospects in key producers China and Pakistan while consumption would be 20,939 tons. A widening gap between consumption and production will result in a larger reduction in stocks this season.
From the Egytex news archive, first published on 29 January 2004. Figures and names are as reported at the time.
