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Cotton futures slipped to a near 5-1/2-year low on Friday, returning earlier gains, as a strong dollar and dragging crude oil prices offset a flurry of buying after strong weekly US government export data. The front-month March cotton contract on ICE Futures US dropped as low as 57.05 cents a lb, the weakest price since September 2009, before closing 0.46 cent, or 0.8 percent, at 57.30 cents.

India may start releasing cotton from government reserves in the first week of February, a source with knowledge of the matter told Reuters, as warehouses in parts of the world's second-largest producer bulge with the fibre. Traders are worried India may come out to sell its stockpiles, further pressuring prices just after top consumer China's decision to cut imports added to an oversupplied market.
ICE cotton fell to its lowest level in nearly 5-1/2 years on Thursday, pressured by gains in the US dollar and investor selling in response to multiple contract lows hit in recent sessions. The most-active front-month March cotton contract on ICE Futures US fell 0.25 cent, or 0.4 percent, to settle at 57.76 cents a lb, after earlier falling to 57.58 cents a lb, its lowest level since September 4, 2009.
The fluctuations observed during the day:

Mali plans to produce 800,000 tonnes of unginned cotton per year by 2018 after output surged by more than a quarter in the 2014/15 season on the back of improved farm inputs, the head of the state-owned textile development firm CMDT said on Thursday. Kalfa Sanogo said final production figures for the season stood at 552,000 tonnes, compared with 440,000 tonnes the previous season.
ICE cotton recovered slightly from over five-year lows on Wednesday as news of Europe's bond-buying proposal indicated possible macroeconomic support, though dealing was limited as traders awaited Thursday's US export sales report. The most-active front-month March cotton contract on ICE Futures US gained 0.22 cent, or 0.4 percent, to settle at 58.01 cents a lb, after earlier extending the prior session's losses and falling to 57.67 cents a lb, its lowest level since September 2009.
The fluctuations observed during the day:


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln