İzmir Ticaret Borsası Daily Cotton Prices

What is İzmir Ticaret Borsası?

‘İzmir Ticaret Borsası’ (İTB) can be translated as the “İzmir Commodity Exchange”. İTB is a public institution affiliated with the Türkiye Ministry of Trade, with a legal personality. It is responsible for regulating the buying and selling of agricultural products under its quotation, as well as determining, registering, and announcing market prices. İTB's upper organization is ‘Türkiye Odalar ve Borsalar Birliği’ (TOBB, Union of Chambers and Commodity Exchanges of Turkey). In terms of trading volume, İTB ranks second in the country and is one of the oldest and best-functioning spot markets, especially in cotton and dried grapes transactions.

When was the İzmir Ticaret Borsası Established?

İTB is the first of the 113 commodity exchanges in Türkiye. It was founded in 1891 by a group of merchants led by Nişli Hacı Ali Efendi, under the name of ‘İzmir Ticaret ve Sanayi Borsası’, which means İzmir Chamber of Commerce and Industry. Before this date, there were places where buyers and sellers met and negotiated, but it wasn't until the end of the 19th century that efforts began to form a legal entity functioning as a modern exchange. This institution was created to keep up with the expanding trade volume in İzmir.

Why İzmir?

Known as “Ege’nin İncisi” (Pearl of the Aegean), İzmir is not only rich in historical and natural beauty but is also rapidly developing in agriculture, industry, and commerce, making it Türkiye’s third-largest city. Home to the second-largest export port after Istanbul, İzmir benefits greatly from having some of the most fertile lands in the world: Küçük Menderes, Bakırçay, and Gediz. With its geographical features and favorable climate, İzmir enjoys a broad variety of agricultural products, contributing significantly to Türkiye’s economy.

What Are the Cotton Prices at the İzmir Commodity Exchange?

Daily cotton prices, previous closing cotton prices, and seed cotton prices can be found on İTB’s official website. On non-trading days, only buyer offers are listed for different categories of cotton bales. Every day, the Spot Cotton Market page provides information on reference prices for different cotton categories, as well as global cotton quotations. Furthermore, daily, weekly, monthly, and annual bulletins detail the highest and lowest cotton prices, along with İTB’s closing prices.