Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 15, 2013 08:35:28

Lower inventories stood for strengthening cotton

ColosseumOn Friday, the price of cotton made the biggest move for last, otherwise this commodity rather quiet week. The reason for the dwindling supplies. Global cotton production in the current marketing year ended 31 July is expected to fall by 3.5%. On the contrary, but will grow cotton exports from the USA. It should go up to 11-percent export growth to 13 million bales. For information, 1 bale weighs 218 kg. Since reaching 31 monthly lows of last June, the price of cotton has increased by 36%. July cotton Friday on ICE Futures U.S. closed about 1% higher at 87.62 cents per pound weight.

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