Colosseum a.s. (Colosseum a.s.)
Commodities  |  January 17, 2013 10:08:28

Cotton continues to grow, reaching a maximum of twelve weeks already

ColosseumThe highest value over the past 12 weeks, during yesterday's trading session on the exchange ICE Futures U.S. climbed most active futures contract price for cotton. It was a sign of the growing demand from the world's largest importer and processor of cotton, China. Report of China National Cotton Exchange refers to the fact that this week, the Chinese government is forced to satisfy the domestic demand start selling cotton from state reserves. The report of the U.S. Department of Agriculture (USDA) revealed for December growth in imports of cotton to China by 75% compared to the previous month. At the same time in the last USDA report WASD January 11 increased the estimate of importing cotton to China for this year by 8.7% to a total of 12.5 million bales. Cotton futures with delivery date in March strengthened in yesterday's trading session 1.5% to the closing price of 77.33 cents per pound weight.During the day, the price rose to 77.78 cents, at most since Oct. 19 last year.

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