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High Cotton Price Affects the Textile Industry
Views: 0 Author: Site Editor Publish Time: 2022-06-21 Origin: Site
In May, the cotton price reached the highest point since 2011. Besides, the drought in USA caused crops loss, demand in China increased, oil price kept increasing, and covid restrictions got loose. These drove the cotton price higher.
What's worse, the textiles buyers refuse to bear the cost increse. Some spinning milles in south India have stopped to produce yarns and purchase raw cotton.
To reduce the cost, some factories chose synthetic fibers instead of raw cotton. Some are using more polyester fibers now.
