Clothing Prices To Rise

5 03 2011

Cotton prices have doubled within the last year. This trend is also going to continue as it is expected to increase 10% within the next few months. The price has risen to $1.90 per pound which surpassed the previous record of cotton prices. The previous record was $1.89 during the American Civil war, 150 years ago. The production cost of cotton has increased due to bad weather cut harvests in major producing countries such as China, Pakistan and Australia. There has also been a restriction on exports from India which is the world’s second biggest producer of cotton. What also has driven up prices is the increased demand of cotton due to number of buyers increasing due to the recovering economy.

Here is the link to the article

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