Desperate are those Thessalian cotton growers who managed to save part of their crop from the floods, as the fall in the international price of cotton led ginners to drop prices to 57 cents per kilo delivered at the gin gate.
Consecutive closes with losses of around 1% per session have pushed the international cotton price to a new season low, with the stock index now approaching 75 cents a pound, the last level of resistance before the market finds itself on new adventures.
This drop has dropped the base price for the domestic crop below 60 cents per kilo, with the highs of the range being the 59 cents paid by Violar (Markou) for delivery to the gin, while 57 cents have been announced by the other companies operating in the country. It is noted that the price together with quality premiums can reach as high as 65 to 67 cents per kilo, a drop of as much as 13% compared to the prices of about a month ago, when very high quality cottons were paid up to and 74-75 minutes.
These are prices that do not cover the costs and leave a loss to the producer, said the member of EOASNL Sokratis Aleiftiras, noting that most producers in the Thessalian plain due to the floods managed to collect about 200 kg per acre and with these prices they are not covered either half the expenses they incurred this year