Fethi اo؛kuntuncel, a member of the Turkish Union of Chambers and Commodities Exchanges (TOBB) board and chairman of the Adana Chamber of Commerce, told the Anatolia news agency on Tuesday that increasing cotton prices are straining the Turkish textile industry. He said the price changes are the result of major cotton producer the US announcing a reduction in Cotton Belt production starting next season. Explaining that cotton is sold at between $1.55 and $1.60 per kilogram in world markets, Turkish textile companies import it for YTL 2.90 per kilogram, اo؛kuntuncel added: “If the increase in cotton prices continues and the dollar price rises, the Turkish textile industry will collapse.” . . Source: Today’s Zaman
Date:8/22/2007
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