Cotton prices rise over China fears

Thursday 28th October 2010
Fears that cold weather could damage the cotton crop have seen the price of the raw material soar.

The fibre on Monday hit US $1.2471 per pound, rising by 4.2% or 5 cents, which is the maximum allowed by the ICE exchange in New York.

Prices rose 9% last week, adding to the record 140-year high hit on October 15, after hail storms hit the southern US.

Texas is the biggest cotton grower in America, which is the world's largest exporter.

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Mike Jones