Cotton Market Essay

950 words - 4 pages

Cotton is a natural fiber harvested from the cotton plant. Cotton is very important it is one of the oldest fibers used by humans, and we know this because traces of cotton have been found that are dated back at least 7,000 years. Cotton is also one of the most used natural fibers today by consumers from all social classes and nations. Cotton is mainly used to make clothing items but it has numerous uses and a variety of applications. There is a large demand for cotton so thousands of acres of land are dedicated to the growing of cotton globally (Smith). Since cotton is a widely used commodity it has a very large market; in 2007 cotton was grown in as many as 90 countries the main ones being ...view middle of the document...

The demand for cotton has dropped during the times of the recession, but now larger countries are starting to see the demand jump back up dramatically these places are mainly developing countries like India and China. According to Anderson’s research close to 90% of cotton consumption comes from developing countries. Cotton consumption has shifted to developing countries as a reflection of the rising wage levels. All over the middle class persons seem to spend quite more on clothing then before and this is particularly what is causing the demand of cotton to increase so rapidly now that more people are starting to gain their jobs back from the recession. According to Grewal, “In India, the Cotton Advisory Board recently announced that mill use is expected to increase by 8.9%, pushing total demand for cotton up nearly 26% year over year.,” so it is a concern that there may be a shortage in the supply and the U.S. will not be able to keep up with the fast increase of demand. There are so many factors that affect the supply and demand that just because it is believed the demand for cotton is too large for the supply silk may become the new cotton and no one would have as much as a demand for it. For example on event that has taken a great toll on the cotton market is the recession. “Fundamentally, most of the cotton trade thought that global demand would step to the plate at 70 cents to 67 cents. The market’s sharp drop through those levels without a pickup in export demands has shaken confidence greatly” (Robinson). Researchers say that cotton consumers were scared off by...

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