24.10.2008 - Cotlook cuts global cotton-use forecast as retail sales slow
From Bloomberg: Global cotton demand will drop more than expected a month ago as slowing retail sales and tightening credit reduce purchases by textile mills, especially in China, the biggest importer, industry researcher Cotlook Ltd. said. Consumption will drop to 25.15 million tons in the year through July 31, 2009, down 2.4 percent from a year earlier and 1.9 percent less than forecast last month, Birkenhead, U.K.- based Cotlook said today in an e-mailed report. Rising costs and slowing sales are making yarn prices unprofitable for mills, the researcher said. .... Full Article: Source
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