Greek cotton market sales are weak

by:JIYALI     2021-08-09
In the past week, the Greek cotton market was quite light. The weak dollar has forced cotton processors to increase their offers. Therefore, apart from selling a small amount (100-200 tons) directly to Turkish spinning mills, it is difficult to see serious transactions on the market.   Most of the international cotton merchants are selling instead of buying, especially after the difficult situation last week. Egyptian spinning mills are still not on the market.   Several estimated reports on new cotton planting in the industry show that the area of u200bu200bcotton planting will be reduced by approximately 25%. Most of the reduced cotton fields have been converted to wheat, and the rest may be planted with corn.   There is also good news on the market. Those farmers who plan to grow corn must manage their farmland and work hard to increase their income. Higher cotton prices will encourage farmers to increase production inputs (such as water conservancy irrigation, fertilizers, etc.), thereby increasing yields.   In terms of price, after New York cotton futures stabilized, cotton processors still insisted on their price level, 80-81 cents per pound (May 08 contract), but there is still very little demand at this price. In rare cases, cotton processors are eager to make deals and make concessions when quoting.
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