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ICE cotton futures closed higher on Thursday, supported by a strong US export sales report. Robust export demand sent a positive signal to traders. A weaker US dollar and rising crude oil prices also lent support to US cotton. A weaker dollar makes cotton purchases more attractive for overseas buyer
ICE cotton futures market recovered stimulated by favorable US weekly cotton export sales. Contract of Jul closed at 78.34cent/lb, up 1.19cent/lb and contract of Dec closed at 76.74cent/lb, up 0.64cent/lb.Cotlook A Index declined by 0.75cent/lb to 86.45cent/lb.
National Development and Reform Commission announced officially on April 12 that additional 800kt of sliding-scale duty quotas of cotton would be allocated this year, in order to guarantee the cotton demand for textile enterprises. We take it for granted that international cotton supply has evident
