Germany : Drastic rise in cotton prices

The continuous rise in prices during the week under report went parallel with other commodities. In comparison with the same day one week before, the quotations ranged more than 800 points higher. Buyers on Euro basis had the chance to benefit from the favourable exchange parity to the US-dollar.
However, after twice “limit up” or slightly under, the business at the local market broke down, too. The volume traded moved on a low level, but was partly terminated until end of the year, whereas in the past weeks purchases were mainly made just for very near dates.
In the Upland range, conclusions of contracts were registered in Central Asian sorts for prompt and further until the 4th quarter 2008; Greek descriptions for prompt and until the end of 1st quarter 2008; Turkish “organic” for the 1st quarter 2008; West African types for the 3rd and 4th quarter 2008, as well as Indian cotton for the 3rd and 4th quarter 2008.
Turnovers in ELS/LS cottons were registered as follows: Egyptian GIZA 86 for the 1st and 2nd quarter 2008; Israel Pima for the 4th quarter 2008 and USA Pima for the 3rd and 4th quarter 2008.