The cotton quotations had drastically gone up during the past week. Reports about reduced area under cultivation, particularly for ELS/LS varieties, and land abandonment because of drought or flooding led to insecurity.
The business focused on goods on hand for short term delivery. Turnovers in the local market remained in a manageable frame in particular because of higher prices.
Turnovers in the Upland range were registered as follows: Central Asian sorts, mostly higher grades, for prompt; Greek descriptions for prompt; West African types for prompt and further until 4th quarter 2008, as well as California SJV ex warehouse.
In the ELS/LS range were traded: Egyptian GIZA 86 for the 2nd and 3rd quarter 2008; GIZA 88 ex warehouse, as well as Israel Pima for the 2nd to 4th quarter 2008.
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