COTTON PRICES SEESAWED IN 2003/04

摘要

International cotton prices, as measured by the Cotlook A Index, averaged 70 cents per pound between 1973/74 and 2002/03. Prices averaged 80 cents per pound from 1993/94 to 1997/98 and 53 cents per pound from 1998/99 to 2002/03. The Cotlook A Index collapsed from an all-time high of 119 cents per pound in May 1995 to a 29-year low of 35 cents per pound in October 2001 Supply and demand were price-responsive, and prices recovered to 61 cents per pound in March 2003. The 2003/04 Cotlook A Index (Forward Cotlook A Index) was introduced in late April 2003 at 63 60 cents per pound, with a premium of 2.7 cents over the 2002/03 Cotlook A Index (Current Cotlook A Index). The 2003/04 Cotlook A Index, hovered around 63 cents per pound in July 2003 was at 61.4 cents per pound on August 1, 2003.