Since the floods in Pakistan in 2009 along with several other weather related problems in growing areas such as Russia and America effecting cotton prices, we have seen cotton reach an all time high moving from around 30cents a bale 18 months ago up to $2.30. This has had a dramatic effect on the textile prices in Europe and around the World.
In times of recession it is difficult to convince the user that prices are on the increase whilst their own earnings are been squeezed. The price of synthetics such as polyester has also risen due to the price of oil so we have seen polyester based textiles also rise over the last 18 months.
It does look as if the prices have settled and cotton has even started to come down again. The problem is whether the growers will stay producing cotton or switch their crops to more profitable areas such as Bio fuels and food based products.
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