Prices for varieties available on the domestic market showed a firm tendency due to the future movements in New York. The business was inconsistent, and despite a solid demand rather sedate.
The interest was focused on deliveries for near dates up to the beginning of May. A rising number of contracts were closed for this period in order to satisfy the industries’ need for ongoing processing and to secure high-value long and extra-long staple cotton.
Negotiations on commitments for the third and fourth quarter until the start of the new season mostly ended without any results due to still diverging price ideas of trade and industry. Therefore contracts were only closed for extra-long staple qualities.
The following contracts were closed:
Medium staple cotton: Cotton from Brazil for prompt delivery, West Africa for prompt and the 1st quarter 2013 as well as Greece for the 1st quarter 2013.
Long- and extra-long staple cotton: Egyptian Giza 88 for prompt delivery, US Pima for prompt, the 1st and 2nd quarter 2013, Sudan Barakat for the 1st and 2nd quarter 2013, too, and the varieties Pima and Acalpi from Israel for the 3rd and 4th quarter 2013.