The Rise In Cotton Prices Means That Consumers Will Spend More Money On Spring Closets.

　　 This year cotton The increase has exceeded 70%, and cotton prices hit a record high last month. So some large garment manufacturers say consumers will have to pay more for their wardrobe in the spring. For synthetic fiber clothing, the same is true. Oil price The cost of polyester has increased by about 25%, due to the high demand and the high demand.

Today, the Wall Street Journal reported that Hanesbrands, Jones Group and VF will raise their price by 10% because of the shortage of fiber supply. "Jones" Despite the economic downturn and high unemployment, clothing manufacturers see opportunities to shift costs to consumers, as consumers have shown. Shopping signs 。 According to the Wall Street Journal quoted MasterCard data, "women's clothing consumption grew by 5.3% in October, which is the first time since March that it has shown that the price has risen healthily." As a result, the company expects consumers to spend more money on their spring closets, purchasing underwear, jackets and fashion clothes.

Why cotton prices have risen to the sky? Because demand in China, India and other developing countries has been increasing. Meanwhile, due to the flood of Pakistan, the destruction of cotton, the heavy rain in China and the reduction of cotton production, the cotton supply is tight. Dezhou cotton is also hit by heavy rain. Dezhou is the main cotton producing area in the United States, and the United States is the world's largest exporter of cotton.

But the Wall Street journal did not mention another factor: market speculation, or Pakistan's business record, which saw the market and the ambitious hedge funds in the cotton futures market.

　　 Cotton prices rose 23% last month, the biggest increase since June 2007. Cotton prices surged to $1.305 / pound in October 26th, setting the highest price in 140 years since the cotton transaction.