Cotton Prices Jump After U.S. Cut Exports Twofold
Nov 10, 2021
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Cotton prices jumped by +13% to $2.59 per kg in October 2021, according to World Bank's data. Global supply shows a sign of reduction, as American cotton exports dropped twofold from September to October. Droughts have wiped out a significant part of cotton crops across the U.S., especially in Texas. The U.S. remains the world's leading supplier, accounting for 41% of global cotton lint exports. China, Vietnam, and Pakistan represent key importers of cotton lint from America.