Large Purchase Of Egyptian Cotton

The total quantity offered was 17,715 bales. The details of country-wise purchases are: US 3,200 bales (18.06), India 3,162 bales (17.85), Japan 3,162 bales (17.85), Spain 2,827 bales (15.96), Serbia 1,629 (9.20), Italy 1,527 bales (8.62), Germany 771 bales (4.35), Greece 699 bales (3.95), Indonesia 400 bales (2.26), Portugal 188 bales (1.06) and Turkey 150 bales (0.85).

In this auction, there was good demand for the quality G-77 which stood first with the sale of 4,966 bales (28.03 per cent), followed by G-86 with 4,482 bales ( 25.30 per cent), G-75 with 3,123 (17.63 per cent), G-45 with 2,086 bales (11.78 per cent). Sources said, the prices offered were dollar per pound. C&F Mumbai/Madras in the auction were as under : G-45 $ 206.60, G-76 $ 152.79, G-70 $ 145.69, G-77 $ 140.61, G-86 $116.25, G-75 $115.23, G-85 $112.80 and G-83 $108.12.

 

India reportedly purchased 4,482 bales of G-86, which quality-wise is better than Indian DCH-32 and price-wise is also cheaper.

The crop of this quality of cotton is estimated to be very small at about 76,000 bales, which is likely to be disposed of within about two weeks, which may help the production of our DCH-32 and MCU-5. Mills will get more yarn CSP from this quality cotton and this type of yarn is highly demanded in Europe and Japan.