Cotton Slumps to Four-Week Low on China Growth, Indian Planting
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Cotton declined to a four-week low in New York and futures in Zhengzhou fell on speculation that global demand will decline as China, the biggest importer, takes steps to slow growth and as planting expands in India.
Cotton for March delivery dropped as much as 3.1 percent to $1.1937 a pound, the lowest price since Oct. 22, on ICE Futures U.S. in New York at 4:34 p.m. Tokyo time. The fiber fell 8.2 percent last week, the most since February 2009.