Following the recent rainfalls all over cotton growing areas, harvesting is now slowly being restarted. In most cases the after rain cotton still stands at hvi 41, however we are going to need couple of weeks ginning in order to evaluate exact status.
Starting from the south in Levadia area harvest has reached the 40%, while in Thessaly we are at about 30%. Going to the north, Thessaloniki area is about 15% and Serres / Drama are at about 5-10%. Thrace fields are about 20% harvested, however big part corresponds to the non irrigated or early variety fields.
Over all it looks that main quality of the season will be CG hvi 41. The CG hvi 31 (middling) accounts to not more than 10-15% of the whole crop and comes from the early harvested areas. After rain styles such as hvi 42/51 only limited reported. Average staple length is at 1 3/32β€™β€™ to 1 1/8β€™β€™ while mic follows the recent trend being on the high side in many areas.
Business wise, we estimate sales to be about 80-85k tons. Recently there is demand from Egypt at 850-900 on Dec 17 FOT at equivalent fix price for the pre rain qualities. Ginners are reluctant to sell now fix price since they are not aware of seed cotton cost. In addition, they are also focused on executing their existing sales.
Hope to see you all soon at Singapore ICA event!