News: March 28, 2022. The Price of Cotton is Also Increasing

[marcusantoniu26]

The price of cotton reached 1.42 US$ per pound, the highest value in a decade. There are many reasons that explain this:

• The severe drought conditions in West Texas. The US is a major cotton producer and within the US, Texas is the largest producer.

• Fertilizer price increase. This has to do with the events in Eastern Europe, including the sanctions imposed on Russia by the Western nations and the rise in energy prices.

If the trend continues, we can expect clothing to increase its price soon, maybe at a faster than the average inflation rate.

For further information, please read the following article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

Comments

[ajanaku]

Never surprised on the increase in cutton ,the sanction impose on Russia will affect all major factor in every country