The Egyptian cotton exports commitments reached 69,011 Tons in the period from 20/10/2003 to 7/2/2004. .
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The commitment percentage for G70 (Extra long Staple) reached 15,682 Tons with percentage of 22.72% of the total commitments. .
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The commitment percentage for G88 (Extra long Staple) reached 11560 Tons with percentage of 16.75% of the total commitments. .
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While G86 (Long Staple) reached 41,056 Tons with percentage of 59.49% which the highest percentage of total commitments. .
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The number of countries importing Egyptian cotton reached 24 countries till 7/2/2004. .
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The main three countries are : .
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1 – Switzerland: 14,748 Tons with percentage of 21.37% of total commitments. .
2 – Italy: 9,200 K Tons with percentage of 13.33% of total commitments. .
3 – India: 9,095 Tons with percentage of 13.18% of total commitments.In the short term, China domestic prices continue rising, ignoring the recent fall in New York futures and the international market. The gap between Chinese prices and the A Index further widened in the past two weeks, now reaching about 1,700 to 1,800 yuan per ton (21 to 22 cents per kilo, delivered mill price, VAT included). .
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Cotton stocks at Chinese mills are very low, in addition, forcing buyers to order more cotton ahead of a seasonal peak. .
.Prices remained unchanged or slightly declined in India in the week to February 4th, in line with the fall in US futures. .
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Exports could decline since India export prices are now less competitive compared with other origins of similar qualities. .
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Domestic prices could remain at the level of about 24,000 rupees per candy (63.22 cents per pound) but would not rise above, last week said to Dow Jones the vice-president of a large cotton mill. .
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Prices did not change in the past week in Pakistan and in Turkey, partly due to Eid holidays. Buyers are today back to work. .
Date:2/12/2004
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