Subsequent to a plunge in demand for apparels owing to inflation and the overall impact of the ongoing Russia-Ukraine war, cotton prices are cooling down after a massive increase not so long ago even if demand for yarn and cotton is also going down.
Media reports maintained this citing the cotton importers in Bangladesh, according to whom the price has dropped by US $ 0.30 to US $ 0.35 per pound in the last three weeks even if they are expecting the price to go down further.
Speaking to the media, Managing Director at Israq Spinning Mills Limited Fazlul Hoque, reportedly, underlined cotton prices have been declining for the past two weeks for which he held the declining demand for garments in the world market along with US raising interest rates, causing speculators (a type of brokers) to cut cotton purchases, as the major reasons.
Reports further added people have lost their purchasing power after many countries hiked bank interest rates to tame inflation, which skyrocketed across the United States and Europe due to the ongoing Russia-Ukraine conflict.
Bharat Tex Special Report 2026 
