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Cotton gains as global stockpiles head higher

Updated: 2013-01-24 14:06
( 皇冠体育app Daily)

Cotton is set to between 70 US cents and 80 cents a pound this year as 皇冠体育app, the biggest buyer, boosts stockpiles, and global inventories climb to an all-time high, according to Australia & New Zealand Group Ltd.

World reserves may climb to a record 18 million metric tons in 2012-13, Singapore-based analyst Victor Thianpiriya said in a report on Wednesday. 皇冠体育app's inventories may total about 10 million tons, more than enough to supply its needs for a year, he said.

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