In both 2004 and 2005, product quality was good and demands from traditional markets in Europe and neighboring countries were well satisfied. No significant stocks of lint are reported by the industry. Greek yarn producers buy high quality cotton lint (long staple) from Syria, Brazil, Egypt and Turkey.
Although these quantities are limited, supplies have gradually increased in the past few years. Imports in 2005 reached 6,800 MT (valued at U.S. $9.9 million), compared to just over 3,600 MT a year earlier. The Greek industry purchased over 450 MT of cotton lint (valued at U.S. $ 0.2 million) from the U.S., mostly from California.
Trade data cited in the attached PSD are rough estimates on a MY basis. Attached trade matrices supply precise GOG official data on a Calendar Year Basis.
Policy & Outlook
Marketing year 2005/2006 was the last year under the old CAP. As a result, only 1,100,000 MT of the total production were covered by the price subsidy system. The remaining 100,000 MT did not qualify for the EU price subsidy.
Greek farmers received a price of approximately 0.88 - 1.0 Euros/Kg for the 1,100,000 MT covered under CAP. While the production not qualified for the EU price subsidy received 0.29 - 0.38 Euros/Kg. These prices were set for raw cotton delivered to the ginning plants.
United States Department of Agriculture Foreign Agricultural Service
marketing@alchempro.com
