The US Government Says The Price Of Clothing Will Go Up Again This Year.

The US government report shows that global cotton production will be less than expected this year.

The US Department of agriculture 2UE 9 pointed out that by the end of July, the world's cotton output will reach 115 million 250 thousand packages, lower than the 115 million 460 thousand package forecast last month, and the global cotton demand forecast will reach 116 million 550 thousand packets in the same period.

The Ministry of Agriculture said that the Central Asian countries such as Uzbekistan will reduce their cotton production to 7 million 20 thousand bales this year, down from the 7 million 170 thousand package forecast last month.

The world's cotton supply may be tight, stimulating the ICE of the March cotton futures price rose 10 to 2.5% at a record high of $1.8549 a pound.

Bai Yongmin, a Futures Company broker for agricultural exchange in South Korea, said: "the US Department of agriculture report confirms that the supply of cotton is tight in the face of steady demand in China."

Cotton prices have more than doubled over the past six months.

Polo Ralph Lauren executives also plan to raise their prices this year, expecting customers to accept price increases based on brand loyalty and trust quality.

Travis, chief financial officer of the company, pointed out that in addition to cotton, Kashmir

Industry experts pointed out that the production of garments was behind cotton harvest for about half a year. The current price of clothes reflects the cotton price of 85 cents a pound, which is far below the current price of more than 1.8 dollars. This means that the price of clothes may rise again before the end of the year.