CHINA COTTON FUTURES PURCHASES PUSH UP MARKET PRICES AMIDST GLOBAL MARKET UNCERTAINTY
June 1st, 2018
Cotton industry analysts have said the clothing industry should not overreact to a major hike in Chinese cotton futures contracts, following years of stockpiling the fibre by China buyers, even though they accept market uncertainty has been driving up prices.
Contracts have been purchased covering more than 361,000 bales of US cotton for 2019-20, according to US Department of Agriculture data which “would be enough to make 400 million t-shirts,” the Wall Street Journal suggested in an article on June 10, adding: “China has never booked that much cotton ...
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