18 Aug | International Cotton Conference – REGION IN FOCUS: European Union
Opportunities for the EU cotton textile industry in international competition Bremen, 17 August 2022: (…)Read more
Here you can find the current CIF prices for Bremen → (Acrobat© PDF format).
Since discontinuing the futures exchange at the end of 1971, the Bremen Cotton Exchange has been issuing a regular price index for cotton delivered within Germany and Europe. In April 2003, the quotation was changed from LOKO to CIF Bremen (Cost Insurance Freight). Since then, the index has borne this name.
The index CIF Bremen is published by the Committee for Standards, for the Determination of Value Differences and for Price Quotations of the Bremen Cotton Exchange. This price index describes the daily value of cotton based on CIF Bremen/Northern continent. It is calculated by simply averaging the five most favourable quotations from various countries of origin for a firmly defined average quality.
Members of the committee that is composed of people actively involved in cotton trade as well as representatives of the Cotton Exchange meet once a week to determine the market value by evaluating anonymously collected information on prices. The market value is intended to reflect the price level for supply and demand in a well-balanced manner. Only qualities and countries of origin available for prompt delivery or shipping are taken into consideration.
The CIF Bremen is hence offering interested parties that is producers, ginners, traders, yarn and textile manufacturers as well as accompanying service providers such as insurances, banks, forwarding agents, and shipping companies an insight in cotton price development, independent and on a daily basis.
In 2018, the committee adjusted the quotations fundamentally. To be able to provide the interested parties with new information on prices of different qualities, prices for three different qualities of each country of origin are now requested. Moreover, prices have been based on middling 1.3/32” since then (previously strict middling 1.3/32”).
Here, you will find an interview about the CIF index with Axel Trede, Chair of the Committee for Price Quotations.
If you would like to be added to the mailing list for the CIF Bremen Index, please send us an email. Your contact is Heiko Franke (email@example.com).
Above: LOKO Bremen – quotation for near deliveries ex warehouse Bremen, was changed to CIF Bremen, cash on arrival in 2003.
below: Detail of the current CIF scheme