Cotton Prices Further Rising Amid Pessimism

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12 January 2009 - Cotton prices continued steadily rising in the last week in New York, being supported by speculative funds in line with the recent fall in the US dollar. Textile production began also slowly recovering in Pakistan and India with a relatively better demand for spun yarns. There is no clear sign of a long-term rebound in cotton use and prices however, with the current rally being therefore seen by analysts with some strong pessimism.

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