GLOBAL: Cotton Prices Further Climbing

International cotton prices continued last week rising in the United States and China, but also in Pakistan, India, Egypt and Turkey. As a result, global production is expected sharply increasing in the coming season, however, therefore putting pressure on prices.

US cotton futures further rose in the past days, although March is being liquidated and the New York's market was closed on Monday and Tuesday.

The May contract further increased by 1.16% or 66 cents at 57.69 cents per pound. December again reached the symbolic 60-cent level at the same time.

The Cotlook A-Index also rose last week, reaching 59.10 cents per pound on Friday, a 0.68% or 40 cent increase over the past 7-day period.

Although depressed by March coming liquidation, US futures were stimulated by an encouraging weekly report over US cotton exports. Shipments were up 5% in the previous week, 11% above the prior 4-week period. Sales were only up 1%, with orders from China accounting for a large part at 78,700 running bales, however.

International cotton prices are being boosted by the low level in global production this season. Cotton imports by major textile producing countries are expected further boosting prices.

In addition, the current surge in polyester prices forces yarn processors in replacing polyester staple fibers by cotton fibers. �Agencies.

February 25, 2003

Send your News/Releases for publication to
Added: February 25, 2003
  Tell a friendBookmark
Related News:

Website design by InWiz • © - 2000-2020. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 04-04-2020