Five-year high in New-York, all-time high in Pakistan.<br> New global rally in cotton prices
Cotton prices continued surging in the past week on key markets, even reaching a five-year high in New York and an all-time high in Pakistan. Prices also jumped in China following the one-week National Day holiday. Downward processing industry is progressively accepting the new level in world prices.
Egytex News Desk
Egytex
Far from being subject to a consolidation, cotton prices continued sharply rising in the past week. Before closing for a long weekend, New York reached a five-year high, with key December at no less than 71.54 cents.December increased by 6.25% from previous Friday, up 14.43% from a month earlier.
As usually, the Cotlook A Index followed New York rally, rising 2.84% in the past week and up 11.60% in the last 30-day period.
Compared with a year ago, the benchmark indicator rose no less than 40%.
From the Egytex news archive, first published on 19 October 2003. Figures and names are as reported at the time.
