Cotton prices may have stabilized after hitting a 140-year high on February 17th. That may be little consolation to apparel producers, who have been forced to raise prices even as they’re still coping with the sluggish consumer. Cotton is still up 130% over the last year, which is also hurting emerging markets.
Last week the Apparel Exports Promotions Council of India announced soaring cotton prices are likely to crimp India’s apparel exports by at least 15% in volume terms this year.
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