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Cotton prices zoom into stratosphere

11
Nov '09
China's cotton price has been showing a unilateral rising trend since November 12, 2008 on the day on which it touched rock bottom to reach 10,000 Yuan per ton. But now on November 10, it has reached a peak price of 15,290 Yuan per ton, an increase of 50 percent within a year.

Due to cold rainy weather and increased operating rate of downstream textile industry the domestic cotton market has set off on a trot after the National Day holidays. Cotton futures price rose from 14,000 Yuan to 15,000 Yuan, in just 22 trading days.

Farmers are holding on to their cotton stocks in expectation of a rise in prices and with increased operating rate of the textile sector and lower inventories of cotton in the mills, cotton prices are expected to increase further in the near future.

Fibre2fashion News Desk - China


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