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Current: home >>News >> Lace Market >> Cotton price is the higest from the establishment of the New York Cotton Exchange

Cotton price is the higest from the establishment of the New York Cotton Exchange

Business News Agency October 25 cotton recent high-frequency, three months of gains as high as 56%. Apparel manufacturers and retailers began to get nervous, worried by being forced to pass costs to consumers after the bitter recession, sales will suffer. New York Intercontinental Exchange (ICE) Cotton futures last week in December was $ 1.1980 per pound soared on, write down the exchange and its predecessor, the New York Cotton Exchange (NYCE), the highest since the establishment of 140 names on the price. However, in real terms, the current price is still less than one-third of the price hit 1973. 48% cotton prices soaring this year, but production fell to strong demand, tight supply caused by short-term cotton. With the world economic recovery, the world's largest consumer of cotton in China this year, the sharp rise in cotton, but the bad weather to reduced production of cotton, cotton textiles so purchased overseas, the number of China's cotton imports this year than in 2009, more than doubled. Cotton Carrier Association (ACSA) president Leah said: "From the consumer point of view, China is the elephant." World's fourth largest producer of cotton in Pakistan floods downtown, but also hit the country's cotton crop. Meanwhile, the market worried about rising cotton prices in India may extend ban on cotton exports; India since the use of GM technology, has become a major cotton producer. For these reasons, this year may decline in world cotton 5% of the stock fell to its lowest level in 14 years. On the clothing industry, cotton prices go non-stop on behalf of 20 years, ended the era of cheap cotton, but consumers have been accustomed to cheap clothing, so difficult to pass the cost of the manufacturer, especially in the economic downturn. Clothing production costs of raw materials accounts for about a quarter to a half. The most difficult situation is the large number of trafficked persons, such as T shirts and other cotton products, and often the discount retailer is facing price competition. But the production of price apparel manufacturer, has decided to be forced to absorb or pass on costs. UK-based clothing retailer Next last month warned that "2011 will suffer from the heavy cost of a global price pressures," next year, likely to rise 5-8 percent. Tunick, Managing Director of JP Morgan Chase, said cotton prices coupled with pressure on sales and inventory, exclusive apparel industry may result in substantially lower profits. Background of rising cotton prices this year to Qi Yang, mainly due to depreciation of the dollar, emerging markets, strong demand led to supply shortages and climate issues. In addition to cotton, sugar, orange juice and coffee prices surged round. Tracing raw material prices Reuters / Jefferies CRB Index rose last week, arrived in the past two years was high. However, higher cotton prices for cotton farmers is a happy event. Over the years, they often because of profit considerations, but switching to abandon cotton, corn or soybeans and other crops.
[From: 原创] [Author: Wang] [Date: 10-11-20] [Hits: ]


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