Turkish cotton prices fell and trading volume soared this week as the country's largest co-operative Taris sold heavily, dealers said on Thursday. Benchmark Standard-1 average cotton fell to 1.86 lira per kg (1.391 per tonne) this week for payments 10 days ahead. Last week, it sold for 1.87 lira for cash payments and 1.89 lira for payments 15 days ahead.
Volume jumped to 3,306 tonnes this week from last week's 75 tonnes. Taris alone sold 3,026 tonnes. Taris cut its price and sold hefty volumes, and this lowered the prices in the market, said Izmir bourse board member Baris Kocagoz.
Easing prices in world markets due to excess supply and cheap imports from central and east Asia contributed to the fall in Turkish prices, he said.
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