Greek market updating:
Crop size /Crop update /Ginning / Qualities
- Estimated crop : 300,000 mt
- Picking percentage :
- Messologi-Preveza (Epirus): 100 %
- Levadia (Viotia) : 70 %
- Thessalia : 80 %
- Macedonia : 80 %
- Qualities: 51 1-4 with leaf 3-4
- Seed cotton prices : 33,7 € cents delivered gin
Ginning is in full capacity in all the areas.
Prices:
- Price interest from Turkey's Spinners @ 1,24 cents/kg for small quantities
- The interest from merchants is at the level of 56 cents/lb for the available qualities .
- Ginners keep resist from selling due to high cost of production & smaller crop.
Sales:
- Total sold : 80,000 mt
- Local consumption estimate : 70,000 mt
- Left for Export after all the above : 150,000 mt
- Merchants covered short positions last week at the price 56-56.50 FOT .
Local spinners are getting nervous with the lack of supply , the high prices , and the low qualities which they have to adopt .
Local demand at 0.98 €/kg
We have seen a good percentage of the December basis positions to be rollover to Mar 07
Turkey's spinners are still away from our market
Egypt needs to buy 40-60,000 MT from Greece so the cotton that will be available after all the above about 90,000 mt.
Thrakika Ekkokistiria S.A.
marketing@alchempro.com
