Cotton price drop sharply, Sichuan’s garment enterprise “injure deeply”

The cotton price began to fall back in the Spring Festival after going through a high-rise since late last year, till now, the price had dropped more than 30 percent within a quarter. Due to the unstable cotton price, orders of the Sichuan textile and clothing export enterprises decreased. Chengdu Customs data showed that Sichuan’s clothing export fell sharply 60 percent in the first four months. Since late last year, many cotton growers and textile enterprises were frightened about the domestic cotton price soaring and diving. Data from Chengdu Customs showed that, in the first four months, the Sichuan’s clothing and accessories export added up to 310 million USD, which sharply dropped 58.9 percent.

Source:CTEI