Whether we consider the meltdown in the global financial system or developments on the political front, 2008 was truly a year for the record books in terms of terrific highs and terrifying lows. Because this year is characterized by such highs and lows, one word typifies 2008: volatility. The same yearly theme holds true for cotton. Cotton, that basic of all commodities, found its supply, demand and market price buffeted from here to there. This past year has seen cotton prices soar and crash seemingly in line with broader events in the world. In some cases, macro-economic and geo-political developments directly impacted the world of cotton and textiles, while in other cases the price of cotton seemed to take on a life of its own, irrespective of global events.
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