China Cold Snap Raises Cotton Prices

27/10/2010 at 6:21 am Leave a comment

Cotton prices soared to an all time high yesterday as cold snaps in both China and the U.S. put crops at risk.

Cold weather in China, which is the world’s biggest user of fibre, is expected to last through the next day, while hail storms throughout Texas have damaged the crop and delayed harvest.

Since early July, prices have risen 53%.  Last week alone prices jumped 9% and nearly 8% was added to the cost of a pound of cotton in the past two days, bringing it to the highest level since the fiber started trading 140 years ago.

Entry filed under: Business, Cotton, Investing. Tags: , , .

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