“Fresh export deals are almost negligible because demand is weak and fresh supplies are increasing every week. Cotton prices may fall further this week,” Manu Mangaldas Shah, a trader, said in the Reuters article.
Meanwhile, China, the world’s top cotton consumer, imported 3.37 million tons of cotton in the first 10 months of the year, a 21.7% decline for the same period year-over-year.
iPath Dow Jones-AIG Cotton Total Return Sub-Index ETN
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Max Chen contributed to this article.