Cotton Halts Slide on China Demand Outlook; Orange Gains
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Cotton futures halted their biggest three-day decline in almost two years on speculation that China may boost imports. Orange juice also gained.
China, the biggest user of the fiber, may buy 20 million bales this year to meet rising demand from domestic textile mills, Olam International Ltd. said today. The amount would be a record. Cotton prices have climbed 78 percent this year on concern that shrinking global supplies won’t meet demand in the Asian nation.