Cotton Prices Soar: Supply And Demand Become Increasingly Apparent
cotton
Prices have risen to a 25 year high.
On the ICE futures exchange, cotton prices are now 93.73 cents per pound, up 24% this year, the highest level since October 1995.
Lawson Ronald Lawson, managing director of LOGIC Advisors, a commodities consultancy, says supply needs to be taken into account in increasing demand.
According to the United States
Ministry of Agriculture
It is estimated that this year's global cotton consumption will exceed its output, which will further reduce cotton stocks.
From the supply side, Pakistan, the world's largest cotton grower, has suffered a serious reduction in flood. India has recently imposed a prohibitive tax on cotton exports to protect domestic textile manufacturers.
The rise of cotton prices
Economic recovery
This is a positive signal, because it is the most important economic indicator in all commodities.
From a package of cottonseed to a T-shirt, it takes about 18 months to go through such stages as planting, gin, spinning and weaving.
Lawson said that no other raw material was time-consuming and affected by so many factors.
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