Cotton Prices Depressed By Lower Global Use (Mid-Week Update)

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6 November 2008 - Cotton futures failed in recovering in the past days in New York, where Tuesday's rally was offset by Wednesday's fall in prices. Global cotton use would be down 3% this year, the ICAC just predicted, with imports from China sharply declining. State intervention could be massive in China, India and Pakistan in order to support cotton prices. The textile industry may not take advantage of significantly lower raw materials, as a result.

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