Cotton Has Biggest January Gain Since 1960 Amid Rising Demand
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Cotton had its best start to a year since at least 1960, as growers struggled to meet surging demand from China, the world’s biggest consumer.
Prices have more than doubled in the past 12 months as rising growth lifted demand from Chinese textile mills, sending the nation’s imports in 2010 to the highest level in four years. Stockpiles monitored by ICE Futures U.S. have tumbled 87 percent since June 1. Flooding in Australia and Pakistan damaged crops.