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Global cotton prices up in February

22
Mar '10
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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