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Hike in cotton prices make apparels more expensive
19
Jan '11
Cotton is becoming more and more costly throughout the world because of which apparels made from cotton are also likely to become more expensive. Eventually, the burden of higher prices will fall on consumers. Cotton prices stood at $1.53 per pound in the New York Futures on January 18; it went up from $0.95-$1.10 in the global market during the months of August and September, 2010.

The hike registered in cotton prices was owing to the holding of cotton stocks by China – the biggest consumer of cotton in the world, low cotton yield in cotton producing nations like Uzbekistan, the devastating floods that affected the cotton crops last year in Pakistan – the fourth biggest cotton exporter of the world, imposition of ceiling on cotton exports by India – the second biggest cotton producer of the world.

Cotton futures prices are reflecting a progressively rising trend in China in conformity with the growing demand from the textile sector. Textile units are also enhancing their cotton stocks owing to the apprehensions regarding a further hike in cotton prices.

Since the last three to four months, consumers have been paying higher prices for the apparel products from Bangladesh owing to the global hike in the cotton prices. It is anticipated that the ultimate burden of higher prices will fall on the consumers as most of the retail outlets will raise the prices of the apparels.

The Bangladeshi apparel manufacturers have raised the prices of apparels by 25 to 30 percent because of the higher cotton prices. The apparel manufacturers of Bangladesh are in a dilemma over the issue of the current cotton price trends as these manufacturers have plenty of orders. They are not sure whether they will be able to fulfill their commitments owing to the rising trend of cotton prices.


Fibre2fashion News Desk - India

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