In China, due to the bad weather, harvest of cotton is delayed, therefore there is a big increase in demand for cotton from textile mills. According to Department of Agriculture, US export increased 54% in upland cotton. China is the biggest buyer with 42%, the most of any country. Fiber prices increased around 61% in the past year.
According to Cotton Advisory Committee the world cotton production is expected to increase 16% to 25.2 million tons this year when compared to last year’s 21.8 million tons.
As the cotton prices are going up, the prices in the finished textile products are also going up. Some of the products affected include clothing, rugs, towels, bath textiles, curtains, and linens. According to a UK based clothing maker, the clothing prices can increase as much as 8% next year. They also added that the companies that have a very good quality line doesn’t want to add polyester-blends to cotton which will decrease the cost but also decreases the quality as well.