Slight Upturn

The CIF Bremen Index experienced a quite constant upward movement during the course of last week. No decisive changes in cotton production were registered within that reported week. Uncertainty relating to the general economic development has continued to rather determine the consumer's/purchaser's decisions. Due to the avoidance of larger and long-term commitments along the textile chain prompt availability of demanded varieties dominated the prices. Varieties and due dates of the new crop prevailed the closed contracts, except from occasional short-term need. The local industry's need seemed to be satisfied well until the upcoming company holidays as well as shortly after taking into account the contracts closed for the 3rd quarter during past weeks.

In the medium staple range contracts were closed for delivery of cotton fromCentral Asia at near dates as well as for the 4th quarter 2012, from West Africa for the 4th quarter as well and fromGreece for the 1st and 2nd quarter 2013.