Sales Total sold : 70,000 mt
50,000 as previous reported on an on call basis (DEC & MAR basis) plus 20,000 fixed price sales to all the others (spinners and merchants)
Local consumption estimate : 70,000 mt
Left for Export after all the above : 200-230Carry over from 2005/06 crop: 4000 mt .
Our opinion
Local spinners are getting ready to pay 1 €/kg in order to get the qualities they need for their ring span production.
The spread between higher grades (41) and lower grades (51, 52) is still increasing mainly due to the big volume of lower grades production.
Ginners will resist to on call basis contracts due to the current market situation & the losses coming from the fixations of their on call Dec sales. We may possible see rollovers to Mar 07.
Turkey's spinners are still away from our market.
Merchants have to look for low grade importing markets.
We feel being long of high grades ( 41 ) at any price will be the right thing to do this year as these qualities are limited.
Thrakika Ekkokistiria S.A. is one of the largest and oldest cotton ginning mills in Greece. The Company is located in northeastern Greece, just outside the city of Komotini, close to Greece's borders with Turkey and Bulgaria. Thrakika Ekkokistiria S.A. buys seed cotton from local growers and sells the raw cotton for its own account.
Thrakika Ekkokistiria S.A.
marketing@alchempro.com
