Cotton clothing prices have surged by over 20% in the industry, with fall and winter wear seeing significant price hikes. The rising cost of cotton has directly impacted the pricing of denim and other cotton-based products. "The business is getting harder every day. At the start of August, the purchase price went up by more than 20%!" said a children's clothing store owner at Yuqiao Market, looking visibly concerned. According to the reporter, this recent spike in textile prices is closely tied to the high cotton prices seen since the first half of the year. After National Day, the province experienced a new wave of cotton acquisition, with purchase prices rising by 50% to 60% year-on-year.
In just two months, the price increase for cotton clothing has exceeded 20%. "Since early August, we've raised prices three times," said Sun Hui, a children's clothing seller in Nanjing’s Yuqiao Market. He pointed to a child’s outfit called Xiao Frank, explaining that the price of this cotton suit had gone up by more than 20% recently. In a small shop named “Thousand Flowers,†Luo mentioned that similar thick cotton jackets have increased by about 20 yuan this year, from 60-70 yuan to now 90 yuan. Even a long-sleeved shirt now costs an extra 10 yuan. Another vendor, Zhou Lili, noted that the average price per piece of clothing has risen by 3 to 4 yuan. Items that were once sold for 25 yuan are now priced at 28 or 29 yuan, while some items that sold for 45 yuan last year now go for 50 yuan.
The price of one-meter cotton fabric has also jumped by 45 yuan. A buyer from a well-known bedding company in Nantong has been actively seeking raw materials in the second half of the year. “Over the past five months, raw materials were sold out within days, and we kept rolling up.†Many textile companies in Nantong source their materials from a home textile city in Haimen. “Now, the price of cotton yarn has reached over 12,000 yuan per ton. For example, we use a cotton fabric that was originally 25 yuan per meter, but it’s now over 29 yuan.†Experts suggest that this autumn’s new cotton purchases have soared again, combined with the peak season for textile consumption, which is expected to push up prices for winter clothing and quilts further.
Behind the price surge lies a sharp rise in the purchase price of new cotton in the province, which has climbed by 56% compared to last year. Industry insiders point to cotton as the main driver. “Last year, 200 yuan per year of cotton suddenly jumped to 600 yuan this year—do you think that’s fair?†asked a textile business owner. According to the Provincial Price Bureau’s Price Monitoring Center, after National Day, the province entered a peak period for new cotton acquisitions. Compared to last year, the purchase price of new cotton rose by 50%-60%. Due to differences in cotton harvesting cycles, after the two-month concentrated acquisition period, cotton farmers have been selling sporadically for years. Over the past six months, cotton prices have been on a steady upward trend.
According to data released by Nanjing Customs, the province imported $770 million worth of cotton in the first three quarters of this year, a 2.3-fold increase, with an average import price of $1,845 per ton, up 41.1%.
Experts believe that although the province’s cotton production has not declined, there is still a possibility of hot money speculation. The Provincial Agriculture Commission reported that in 2008, due to the financial crisis, textile companies reduced raw material purchases, causing cotton prices to drop and dampening planting enthusiasm. However, this year’s cotton yields have increased, and despite large areas of flooding in cotton-producing regions, the weather conditions have not been bad. As a result, total cotton output this year is not expected to be lower than last year. “Cotton prices have hit a high level recently, and supply shortages are a key reason for this increase. With economic recovery, demand for cotton has grown, leading to tight supplies and higher prices. But the recent record-high prices are also linked to speculative hot money,†one expert warned. “Some people may be speculating on cotton.â€
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