In the private sector, most sales have been concluded on an on call basis
starting from levels of even (three months ago) up to 200 on Dec (most recent
basis). A small part of these sales has already been fixed by ginners who
seemed interested in getting prices between 77-80 c/lb FOT. In addition, during
previous week some sales to Turkish spinners were concluded at levels of 180
c/kgs FOT, however, with the market correcting within this week Turks have
stepped back.
The good news for ginners comes from the euro / usd rate. The specific parity
is becoming on daily basis favorable for ginners and in general Greek exports.
In addition, due to increased lint prices, cotton cultivation in our country is
gaining back some of its appeal. Right now we are at the early stage of
plantings and so far it is estimated that acreage will increase by at least
15%. In other words it is more likely that cotton acreage will be about 250,000
Lastly, cotton growers will target for high yields not only because of the
increased lint prices but also due to the recent application of the restriction
to reach a minimum yield in order to receive the coupled subsidy.”