Imports are the reason behind the cessation of the cotton trade. It is possible to import yarn and cloth at the price of domestic cotton. Cotton prices on the world market declined to $1.75 (YTL 2.20). However, it is still above YTL 2.30 in Turkey.” Policies to prevent imports and to encourage domestic cotton production are requiredEvery day there is another story about companies that have to suspend production, dismiss workers and invest abroad. Selling was about 1,000 tons of cotton a day just five or six years ago. However, at present sellers are lucky if they make a trade of 250 tons. People are unable to protect the market as it used to. The most important textile firms orient toward imports.Source: TextileDailyNews.com”
Date:5/26/2008
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