Fiber Monday struck $1.2471 book, increasing from 4 2pc, or 5 cents, which is the maximum allowed by the CEI scholarship in New York.
Chinese weather forecasts say that snap cold current will last at least another day.
Prices increased 9pc last week, adding to the high hit record 140 years on October 15, hail storms hit southern américain.Texas is the largest producer of cotton in America, which is the largest exporter in the world.
There are mixed views as to whether if the current high prices will remain.
"Players on the market of cotton are providing prices in the long term," said analysts of Commerzbank.Large State buyer India India, cotton company expects a correction in the coming months as well US and Indian crops have boosted .Cependant supply, prices should be capable of supporting the $1 a brand of books for the next three years to the back of robust demand growth and consumption of low storage report. »
The Department of agriculture estimates that the stock will drop by 4 3pc in the first six months of the year prochaine.fournitures were not so tight since 1995 and the prices are already 58pc place in New York this year.
Rabobank analysts believe there are six main reasons why the price of cotton is also high: tightening the Americans, the basics, the battle of arable land, a deterioration in Chinese culture, the weakness of the dollar, the Indian export ban and floods in Pakistan.
"Basic tightening global market has been extremely favourable price, but too has the weakness of the dollar and strengthening speculative interest," they said. "" """Unlike the event price in March 2008, Rabobank believes that this rally is more sustainable".
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