The US Estimates That The Price Of Cotton Will Continue To Rise This Year.

The US government report shows that global cotton production will be less than expected this year, stimulating cotton futures. Price On the 10 day, the American apparel industry is planning to raise again. clothes The selling price reflects the cost.

The US Department of agriculture 2ue9 pointed out that by the end of July, the world's cotton output will reach 115 million 250 thousand packs, down from the 115 million 460 thousand package forecast last month. cotton The estimated demand will be 116 million 550 thousand packages. The Ministry of Agriculture said that the Central Asian countries such as Uzbekistan will reduce their cotton production to 7 million 20 thousand bales this year, down from the 7 million 170 thousand package forecast last month.

The world's cotton supply may be tight, stimulating the ICE of the March cotton futures price rose 10 to 2.5% at a record high of $1.8549 a pound.

Bai Yongmin, Futures Company's agricultural product broker, said that the report of the US Department of Agriculture confirmed that the supply of cotton was tight in the face of steady demand in China.

Cotton prices have more than doubled in the past six months, and consumers are expected to feel the impact of rising cotton prices from clothing prices. Jones, the maker of the magic bra and Hanesbrands, and Jones, such as NineWest, are planning to raise prices to pass on soaring cotton costs.

PoloRalphLauren executives also plan to raise their prices this year, expecting customers to accept price increases based on brand loyalty and trust quality. Travis, chief financial officer of the company, pointed out that in addition to cotton, the prices of all fiber products such as wool and wool in Kashmir have risen sharply.

Jones group plans to raise prices this year, if the cost continues to rise, the increase may reach double digits.

Industry experts pointed out that the production of garments was behind cotton harvest for about half a year. The current price of clothes reflects the cotton price of 85 cents a pound, which is far below the current price of more than 1.8 dollars. This means that the price of clothes may rise again before the end of the year.