{"id":378718,"date":"2011-04-12T21:51:31","date_gmt":"2011-04-12T21:51:31","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/12\/price-hikes-on-cotton-coming\/"},"modified":"2011-04-12T21:51:31","modified_gmt":"2011-04-12T21:51:31","slug":"price-hikes-on-cotton-coming","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/12\/price-hikes-on-cotton-coming\/","title":{"rendered":"PRICE HIKES ON COTTON COMING"},"content":{"rendered":"<p><div readability=\"81.223039215686\">    <!-- KEEP --><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/04\/d08be540tton.jc.top_.jpg.jpg\" alt=\"100_percent_cotton.jc.top.jpg\" width=\"475\" height=\"307\" border=\"0\" class=\"cnnstoryImageFull\" \/><span><b>Come summer, shoppers could be paying 10% to 15% more for their favorite cotton products.<\/b><\/span><span id=\"fb-recommend\"\/><br \/>\n<span>By <a href=\"mailto:parija.bhatnagar@turner.com\">Parija Kavilanz<\/a>, senior writer<\/span><span>April 12, 2011: 2:17 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><\/p>\n<p>NEW YORK (CNNMoney) &#8212; If you can&#8217;t wait to shed that scratchy wool sweater for a cool new cotton T-shirt this summer, prepare yourself. The price hikes on cotton goods that are coming your way will be decidedly uncool.<\/p>\n<p>This summer, shoppers will be paying 10% to 15% more on all cotton products, according to a new industry survey. <\/p>\n<p>&#8220;I can&#8217;t recall a time when we&#8217;ve seen this type of retail price increase on cotton products,&#8221; said Andrew Tananbaum, CEO of Capital Business Credit, which provides financing to clothing and home furnishing suppliers.<\/p>\n<p>For years, raw cotton prices had been falling, keeping a lid on retail prices for shirts, socks, dresses, home furnishings and other cotton merchandise.<\/p>\n<p>But that trend dramatically changed over the past year, as cotton prices soared to record highs following a global <a href=\"http:\/\/money.cnn.com\/2011\/04\/12\/news\/economy\/cotton_prices_will_rise\/index.htm\">supply shortage<\/a>.<\/p>\n<p>As raw cotton prices surged, manufacturers and sellers have fought to insulate shoppers from paying more for cotton products.<\/p>\n<p>But that&#8217;s ending, with producers and sellers saying they&#8217;re no longer able to eat up the additional costs to their business.<\/p>\n<p>Spiking cotton prices, higher transportation costs and ballooning business expenses will now have to be passed along to consumers, companies polled in the CBC survey said. <\/p>\n<p>&#8220;Speculation of inflation has haunted the global recovery since the economic recovery began,&#8221; said Tananbaum. &#8220;We now have concrete proof that the cost of raw materials has not only increased but will quickly correlate to an increase in consumer prices.&#8221;<\/p>\n<p>Other than paying more for cotton items, consumers will also see more non-cotton clothing hanging on store racks.<\/p>\n<p>89% of manufacturers surveyed said they will replace higher-priced cotton with rayon and Lycra while a quarter of firms said they will  design products differently to use less cotton fabric.<\/p>\n<p>The CBC survey, conducted in March, polled 70 manufacturers and importers who make some, if not all, of their products in China, Vietnam, Bangladesh and Pakistan.\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/04\/12\/news\/economy\/cotton_prices_will_rise\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/i.cdn.turner.com\/money\/images\/bug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/04\/d08be540tton.jc.top_.jpg-150x150.jpg\" \/><\/p>\n<p>Originally posted here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/ArQhb_dftGc\/index.htm\" title=\"PRICE HIKES ON COTTON COMING\" rel=\"noopener noreferrer\">PRICE HIKES ON COTTON COMING<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Come summer, shoppers could be paying 10% to 15% more for their favorite cotton products. By Parija Kavilanz , senior writer April 12, 2011: 2:17 PM ET NEW YORK (CNNMoney) &#8212; If you can&#8217;t wait to shed that scratchy wool sweater for a cool new cotton T-shirt this summer, prepare yourself. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-378718","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PRICE HIKES ON COTTON COMING - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/12\/price-hikes-on-cotton-coming\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"PRICE HIKES ON COTTON COMING - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Come summer, shoppers could be paying 10% to 15% more for their favorite cotton products. 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