Friday, January 16, 2009

Cotton Surges on Panic Buying

Demand for cotton has also increased over the past few days. From Dawn.com:

Cotton prices on Friday maintained their upward drive as spinners and mills continued to make panic buying in the backdrop of a sudden bullish change in the world cotton scene, analysts said.The both perceptions of a short crop and revival of new year demand from the leading cotton importing countries is said to be the chief factor behind the snap price flare-up.