Related Keywords: cotton price, US cotton buyer
The high cotton prices have not only resulted drop in demand and also cancellation of order from cotton buyers. U.S. witnessed largest cancellation so far this season since October from its largest buyer.
According to US government data, Turkey and Vietnam who is the top consumer of natural fiber due to high price have cancelled of bulk orders, of around 35,000 bales. The biggest net cancellations in a month came after prices jumped toward August highs near 94 cents a lb amid concerns about depleting domestic supplies.
