EUR/US$: 1.1267
U.S. Cotton: Futures Rally on Wednesday
Barchart: Cotton futures rallied 52 to 107 points on Wednesday, despite a stronger US dollar and a slump in crude oil of around 8%. Census data showed September cotton exports at 641,476 bales, down 30.2% from August but up 8.5% from a year earlier. The Seam sold 1,852 bales on Tuesday at an average of 75.03 cents/lb. ICE certified stocks jumped by 38,700 bales on November 3 to 65,678 bales. Dec 26 settled at 78.11 (+107), Mar 27 at 81.96 (+106) and May 27 at 83.56 (+101).
Source: Barchart
Bangladesh: Wage Unrest Tests Garment Industry's Low-Cost Edge
Reuters – Ruma Paul: Pay protests around Dhaka have forced hundreds of garment factories to halt production, as workers demand a minimum monthly wage of 30,000 taka ($243), up from 12,500 taka ($100), a 140% increase. The unrest comes in the industry's busiest season, as factories begin producing spring collections for brands such as H&M, Primark, Walmart, Zara and Gap, after earlier disruptions from fuel and power shortages caused by the Middle East war. The garment sector employs 4 million people, accounts for more than 80% of export earnings and about 10% of GDP. The government has set up a wage board, and a raise similar to past increases of 50–77% could push Bangladesh's minimum wage above India's, where garment wages range from 13,000 to 15,000 rupees ($137) a month. Industry executives note that India is an increasingly strong competitor, with its own cotton, a strong yarn industry and government incentives.
Source: Reuters
Pakistan: Sindh Drives 70% of Cotton Arrivals Gain
The News – Munawar Hasan: Cotton arrivals at Pakistan's gins reached 4.742 million bales by October 31, up 6.88% from 4.437 million a year earlier, according to the Pakistan Cotton Ginners Association. Textile mills bought 3.996 million bales and exporters and traders 98,000 bales, while unsold stocks with gins fell 6.6% to 648,000 bales. The Sindh zone, including Balochistan, rose 8.52% to 2.743 million bales, accounting for 57.85% of the crop and 70.57% of the national increase, with Balochistan recording the fastest growth at 35.41%. Punjab rose 4.71% to 1.998 million bales, but central Punjab fell almost 27%, with some districts recording no arrivals for a second year. Arrivals in the second half of October rose only 3.08% to 661,000 bales, as peak arrivals tapered off.
Source: The News
Uganda: Greek Firm EMKAT Eyes Cotton Industry Investment
Ecofin Agency – Stéphanas Assocle: Greek industrial company EMKAT S.A., founded in 1976, is exploring investment in Uganda's cotton sector. Its chairman, Petros Gialamas, discussed possible cooperation on November 3 with Deputy Speaker of Parliament Thomas Tayebwa, who said Uganda wants high-yield varieties and domestic processing, though no project details were disclosed. Ugandan production fell from 115,975 bales (of 185 kg) in 2022/23 to 54,883 bales in 2024/25, owing to recycled seed, high input and labour costs and better returns from other crops, and about 90% of the lint is exported unprocessed. Other initiatives include a $2 million African Development Bank grant for northern Uganda, calls to rehabilitate the Lira spinning mill, idle for about 40 years, and a $420 million Fine Spinners project in Gulu.
Source: Ecofin Agency
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