Cotton Closes at Highest Level Since 1995; Orange Juice Drops
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Cotton futures rose, closing at the highest price since 1995, on concern that supplies will fall short amid rising demand from Asia. Orange-juice fell for the first time in a week.
Global cotton consumption will rise 2 percent in the year ending July 31 to 25.1 million metric tons, the International Cotton Advisory Committee said yesterday. China and India, the top consumers, will account for most of the gain, the group said. The ratio of year-end inventories to mill use may drop to 36 percent, the lowest level since 1990, it said.