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China Cotton Prices Supported by A Lack of Import Quotas

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Import prices were sharply down in the past days in China, in line with New York’s fall. Demand for foreign fibers was however curbed by a lack of tariff quotas that is supporting prices for domestic cotton. Spinners are forced buying Chinese cotton, a move that is supporting domestic prices. Textile production could get a boost after orders from western countries were reportedly increased in the past weeks.