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المشهد العربي
Cotton prices hit April 2024 peak
- Consequently, US cotton futures prices rose to their highest levels since April 2024 due to concerns over crop quality caused by ongoing drought and high temperatures in Texas, with only 38% of farms rated as "good" or "excellent," the lowest since October 2024. This has led to a 37% increase in cotton prices since the beginning of the year, making it the top-performing soft commodity on the Intercontinental Exchange. Increased demand, driven by rising oil prices and the US military conflict with Iran, has further supported the surge in cotton prices.
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