Circular: 08/2016 Wednesday 27 July 2016

Status: No change since previous circular

Notes: 1. Value differences recorded in pink boxes are based on current market evidence available to the ICA
2. B = Basis
3. Value differences are operative on the business day following the date of this circular
4. All value differences are published in US cent points per pound
5. The ICA accepts no responsibility for the accuracy of the information contained in this circular

Grade and staple

African Francozone
Grade 0 1 2 3 Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16"
- B - - 125 B -125 -325

Argentine
Grade B C C-1/2 D D-1/2 E F Staple 1.3/32" 1.1/16" 1.1/32" inch 31/32"
400 200 B -300 -600 -900 -1200 50 B -50 -200 -300

Australian (based on Universal Standards)

Grade GM SM MID SLM Staple 1.3/16" 1.5/32" 1.1/8" 1.3/32" 1.1/16"
100 B -100 -300 - 50 B -100 -300

Azerbaijan (Saw-ginned)
Grade 1 2 3 4 5 Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch
AZ1 200 125 B -50 -150 100 50 B -50 -
AZ2 75 -25 -150 -250 -300
AZ3 -225 -425 -575 -675
AZ4 -1000 -1050 -1175 -1400
AZ5 -1750 -1925 -2125

Azerbaijan (Roller-ginned)
Grade 1 2 3 4 5 Staple 1 5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch
AZ1 175 100 B -50 -125 150 100 50 B - -
AZ2 25 -75 -150 -250 -375
AZ3 -325 -450 -550 -650
AZ4 -550 -625 -700 -1000
AZ5 -1325 -1600 -1900

Brazilian (based on Universal Standards)

Grade SM M SLM LM Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
White 100 B -100 -300 200 100 B -150 -
Spotted -150 -250 -350 -550

Chinese (do not represent the trash content, which is determined by instrument testing)
Grade One Two Three Four Five Six Seven Staple 1.1/8" 1.3/32" 1.1/16"
B -50 -100 -250 -450 -750 -1050 B -75 -

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 El Paso (based on Universal Standards)
Grade GM SM MID SLM LM Staple 1.3/16" 1.5/32" 1.1/8" 1.3/32" 1.1/16"
75 B -100 -300 -700 150 50 B -100 -300

Greek (based on Universal Standards)

Grade SM M SLM LM Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16"
- 100 B -150 200 100 B -100

Indian
Grade Extra Superfine Superfine Fine Fully Good Good
ICS 101 225 100 B -100 -175
ICS 102 225 100 B -75 -150
ICS 103 175 75 B -75 -175
ICS 104 175 100 B -75 -150
ICS 105 175 100 B -100 -200
ICS 106 275 125 B -100 -175
ICS 107 325 175 B -175 -275
ICS 201 150 75 B -100 -150
ICS 202 225 125 B -125 -225

Staple 13/16" 7/8" 15/16" Staple 1.7/32" 1.1/4" 1.9/32"

ICS 101 -150 B - ICS 106 -150 B 600
ICS 102 -150 B 175
Staple 1.5/16" 1.3/8" 1.7/16"
Staple 7/8" 29/32" 15/16" 31/32" ICS 107 -300 B 500
ICS 103 -75 B 100
ICS 104 -100 B 100 Staple 13/16" 7/8" 15/16"
ICS 201 -150 B -
Staple 1.1/32" 1.1/16" 1.3/32" 1.1/8" 1.5/32" 1.3/16"
ICS 105 -375 -250 -125 B 150 300 Staple 1" 1.1/32" 1.1/16" 1.3/32" 1.1/8"
ICS 202 -200 -100 B 100 200

Kyrgyzstan
Grade Maximum Good Average Usual Weed Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch
I 300 200 B -150 -300 75 B -50 -125 -
II 50 -125 -175 -400 -650
III -350 -525 -675 -850

Malawi
(Roller-ginned) (Saw-ginned)
Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32"
50 B -125 -300 125 B -175 -350

Mexican (based on Universal Standards)

Grade GM SM MID SLM Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32"
175 100 B -200 - B -50 -150

Mozambique
Grade Extra 1 2 3 4 5 Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32"
200 100 B -150 -375 -525 100 B -100 -200

Pakistan (Sawginned)
Grade Super 1 2 3 4 5 Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch 31/32" 15/16"
- - 100 B -100 -200 - 100 B -100 -200 - -

Paraguayan
Grade No 3 No 4 No 5 No 6 No 7 No 8 Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
200 B -200 -350 - - - 50 B -50 -

Sudanese ('X' represents a different staple for the grade as numbered)

BARAKAT No 1 No X2 No 2 No X3 No 3 No X4 No 4 No X5 No 5 No X6 No 6 No C6
Grade 400 300 300 200 200 100 100 NIL B -100 -100 -
Staple 1200 1100 900 800 600 500 300 200 B -100 -300 -

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 Syrian (Saw-ginned)
Grade EXTRA ZERO No 1 No 2 No 3 Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
100 B -75 -150 - 250 150 50 B -100

Tanzanian (Mwanza)
Roller Ginned
Grade TANG GANY +½ GANY GANY -½ YIKA Staple 1.1/8" 1.3/32" 1.1/16"
300 150 B -150 -350 100 B -150
Sawginned
Grade TANG GANY +½ GANY GANY -½ YIKA Staple 1.1/8" 1.3/32" 1.1/16"
250 100 B -150 -350 100 B -100

Turkish
RG IZMIR (EGE) RG IZMIR (EGE)
Grade No 1 No 2 No 3 Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
RG IZMIR B -350 -650 50 B -50 - -
LIGHT SPOTTED -250 -550 -850

RG SOUTHEAST RG SOUTHEAST
Grade EXTRA No 1 Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch
RG SE 100 B 50 B -50 - -
LIGHT SPOTTED -150

SG UPLAND SG UPLAND
Grade EXTRA No 1 No 2 Staple 1.3/32" 1.1/16" 1.1/32" inch
SG UPL'D 150 B -200 50 B -50 -
LIGHT SPOTTED -

Turkmenistan
Grade 1 2 3 4 5 6 Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch
300 B -200 -500 -700 -1100 125 B -125 -175 -

Ugandan
BPA
Grade UCON UCOB UCOP UCOA UCOM Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
150 75 B -100 -250 100 B -100 -200 -

Sawginned
Grade UCOSA I UCOSA II Staple 1.1/8" 1.3/32"
100 B 50 B

USA California Acala SJV (based on Universal Standards)

Grade GM SM MID SLM LM Staple 1.7/32" 1.3/16" 1.5/32" 1.1/8" 1.3/32" 1.1/16"
200 100 B -300 - 350 200 100 B -200 -400

USA California / Arizona DPL (based on Universal Standards)

Grade GM SM MID SLM LM Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" 1.1/32"
250 150 B -300 - - 100 B -400 -500

USA Texas (based on Universal Standards)

Grade GM SM MID SLM LM SGO GO Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch 31/32"
White 300 150 B -100 -300 - - 200 100 B -150 -300 -350
Spotted PAR -50 -300 -450 -600 - -
Tinged n/a -300 -500 -650 -800 - -

USA Other American Raingrown (based on Universal Standards)

Grade GM SM MID SLM LM SGO GO Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch 31/32" 15/16"
White 250 150 B -100 -300 - - 200 100 B -75 -200 -300 -350
Spotted PAR -100 -300 -425 -600 - -
Tinged n/a -300 -500 -650 -800 - -

USA Pima
Grade 1 2 3 4 5 6 Staple 1.1/2" 1.7/16" 1.3/8" 1.5/16"
150 B -1000 -1500 - - 200 B -200 -350

Uzbekistan (Medium Staple)

Grade OLIY JAKSHI URTA ODDIY IFLOS Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32" inch

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 BIRINCHI 375 275 B -150 -300 125 B -125 -175 -
IKKINCHI 50 -75 -175 -400 -650
UCHINCHI - -300 -400 -675 -850
TURTINCHI - -1075 -1250 -1325 -1400
BESHINCHI - - - - -

Uzbekistan (Long Staple)

Grade OLIY JAKSHI URTA ODDIY IFLOS Staple 1.7/16" 1.3/8" 1.5/16" 1.1/4" 1.3/16"
BIRINCHI 425 300 B -300 -600 100 B - - -
IKKINCHI 100 -150 -350 -625 -950
UCHINCHI -525 -725 -925 -1125
TURTINCHI -1425 -1725 -1825 -2100
BESHINCHI -3500 -4000 -4325

Zambia
(Roller-ginned) (Saw-ginned)
Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32"
50 B -125 -300 125 B -175 -350

Zimbabwe
(Roller-ginned) (Saw-ginned)
Staple 1.5/32" 1.1/8" 1.3/32" 1.1/16" Staple 1.1/8" 1.3/32" 1.1/16" 1.1/32"
50 B -125 -300 125 B -175 -350

Micronaire (Please read ICA Rules 233 to 236 for further information)

Rule 235: 1. In any dispute about micronaire, the procedure in Rule 233 will apply unless the parties agree otherwise
2. Unless the buyer and seller agree otherwise

For American cotton:

For contracts that set a minimum micronaire value, the Below the control limit % allowance
allowances for bales not reaching this minimum is: 0.1 0.5
0.2 1.0
0.3 2.0
0.4 3.0
0.5 4.0
0.6 5.0
and so on by + 1% for each 0.1 micronnaire

If the contract sets out a minimum of 3.5 (3.5 NCL or 3.8 Cotton reading % allowance
UCL) or higher: 2.9 to 2.6 inclusive increase to 3%
for each 0.1 below 3.0

2.5 or below increase to 4%

for each 0.1 below 2.6

Above the control limit % allowance

For contracts that set a maximum micronaire value, the
0.1 0.5
allowances for bales that go over this maximum is:
0.2 1.0
0.3 2.0
0.4 3.0
0.5 4.0
0.6 5.0
and so on by + 1% for each 0.1 micronnaire

If the contract sets out a maximum of 4.9 or lower: Cotton reading % allowance
5.6 or higher increase to 3%
for each 0.1 above 5.6

For non-American cotton:

Below the control limit % allowance
For contracts that set a minimum micronaire value, the
0.1 0.5
allowances for bales not reaching this minimum is:
0.2 1.0
0.3 2.0
0.4 3.0
0.5 4.0

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 0.6 5.0
and so on by + 1% for each 0.1 micronnaire

If the contract sets out a minimum of 3.5 (3.5 NCL or Cotton reading % allowance
2.9 to 2.6 inclusive increase to 3%
3.8 UCL) or higher:
for each 0.1 below 3.0

2.5 or below increase to 4%

for each 0.1 below 2.6

Above the control limit % allowance

For contracts that set a maximum micronaire value, the
0.1 0.5
allowances for bales that go over this maximum is:
0.2 1.0
0.3 2.0
0.4 3.0
0.5 4.0
0.6 5.0
then by 1% for each 0.1 micronnaire

If the contract sets out a maximum of 4.9 or lower: Cotton reading % allowance
5.6 or higher increase to 3%
for each 0.1 above 5.6

Strength (Please read ICA Rules 233 to 236 for further information)

Rule 236: 1. In any dispute about strength, the procedure in Rule 233 will apply unless the parties agree otherwise
2. Unless the buyer and seller agree otherwise

For contracts that set a minimum HVI - Grams/tex below the control limit by
% allowance
strength value, the allowances for bales between and
1.1 2.0 1.0
not reaching this minimum is:
2.1 3.0 1.5
3.1 4.0 3.0
4.1 5.0 5.0
5.1 6.0 8.0
Plus 4% for each gram/tex below 6

Pressley - psi below the control limit by

% allowance
between and
1050 3000 1.5
3050 5000 3.0
5050 7000 5.0
7050 9000 8.0
Plus 4% for each 2000 psi below 9000

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