Source: The Hindu Businessline
High level of “on-call sales” leading to buyers dragging on settlement has pushed up rates
Subramani Ra Mancombu |Chennai,
May 10
Cotton prices in the global market have increased to almost a 11-year-high on the Intercontinental Exchange (ICE), but stakeholders in the industry say the rise in natural fibre prices defies fundamentals.
According to the US Department of Agriculture (USDA), global production is likely to be higher from earlier estimates this season to June, while consumption is predicted to drop and ending stocks are set to rise.
https://www.thehindubusinessline.com/economy/agri-business/why-cotton-prices-are-near-11-year-high-defying-fundamentals/article65401751.ece (Source: The Hindu Businessline)