Cotton prices at their lowest since November 2009
01/10/2014
In its monthly report for September 2014, specialist publication Cotlook explained that cotton supply has exceeded demand in many regions for a number of years, but that China, typically, absorbed much of the excess.
This year, however, the policy in China changed and what Cotlook has called “procurement by the state of virtually the entire domestic crop at prices far above world parities” has ended.
For this reason, with an estimated global output of 26 million tonnes and estimated global consumption of 24 million tonnes, world stocks will continue to rise.
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