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Cotton price on world market reaches 10-year high
Business
- 04 October, 2021
- 12:30
The price of cotton in the world market has exceeded USD 1 a pound or 455 grams for the first time in 10 years, Report mentions, referring to foreign media.
The figure jumped 8.8% to USD 1.07, the highest price dynamics among other products sold on commodity exchanges.
The growth was caused by supply chain disruptions, energy supply problems, and declining commodity stocks. Analysts believe that the rise in cotton prices will also increase the cost of textiles.
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