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Article: Cotton prices low, for now.
- Article from:
- Home Textiles Today
- Article date:
- June 17, 2002
- Author:
CopyrightCOPYRIGHT 2002 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- With world cotton supply still sharply exceeding demand--in spite of reduced plantings and steadily smaller crops in some parts of the globe--cotton prices so far this year are running almost 25 percent beneath year-ago levels, averaging about $0.43 a pound, down from $0.57 a year ago.
But the gravy train won't keep running forever, cotton producers caution, and U.S. textiles producers can expect to start paying more for their basic raw materials next year as supplies keep tightening--production falling as much as 10 percent--pushing prices back up to an estimated $0.53 a pound, according to the latest monthly forecast of the International Cotton ...