In February, cotton prices in international market rose, mainly due to expected upturn in demand for the commodity.
In the month, March contract of New York cotton futures averaged 74.43 cents / lb, up 2.54 cents / lb, or up, 3.5 percent from the previous month.
Average price (CNF Chinese ports) of imported cotton (M grade) was 81.26 cents / lb, 2.30 cents / lb or 2.9 percent higher compared with the previous month.
When converted into local currency, it stood at 14,359 Yuan / ton based on calculation of 1 percent tariff, down 577 Yuan per ton from domestic market price.
Fibre2fashion News Desk - China
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