‘Cotton Trade Will Be Affected Negatively’

Economic sanctions applied by United States on Turkey took a wide place in English press, too. Financial Times emphasized these developments occurred will affect cotton trade negatively between USA and Turkey.

  01 November 2018 01:00 Thursday
‘Cotton Trade Will Be Affected Negatively’

Increasing of the tension between USA and Turkey and the effects on textile sector due to the economic sanctions applied by the parties have had a broad repercussion in English press, too. In the news pressed of Financial Times, it was emphasized that Turkish textile manufacturers have directed to the countries like Brazil, Turkmenistan and Greece in the name of meeting the needs of cotton. The news in which Turkey is the third biggest buyer of the cotton farmers in the South of United States, the expressions of “While some Turkish buyers continue accordingly to the agreements they signed before, some of them may go back on the current agreements” were used. In the news that Turkish Lira has had a 37% decrease in value, the claim that the trade to be realized via dollar weakens the hand of Turkish manufacturers. Also in the news, it is stated that Turkish textile factories may compensate some part of the effect to Europe for fabric and clothing export but inflation will affect domestic consumption negatively. Leon Picon, Cotton Sale Director of Orta Anadolu Sanayi ve Ticaret A.Ş. whose opinions were told about the issue, gave place to the following expression “After the sharp fall occurred on Turkish Lira, cotton trade will certainly be less attractive.”


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