China’s demand for cotton is helping give the global market for the commodity a boost.
The country’s textile mills are importing more cotton than many investors and analysts had expected. This large appetite for imports from the world’s biggest cotton consumer, combined with rising consumption of the fiber globally and a decrease in U.S. plantings, has fueled a rally in cotton prices.
Cotton plantings are forecast to fall to the lowest level since 1983, down 27% from 2012, according to estimates from the National Cotton Council, an industry group.
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Alexandra Wexler, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/k_CZPjBUJ-0/
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