“It was a perfect storm,” explained Hal Majors, director of purchasing at Drury Hotels. “Cotton mills in Pakistan and India began hording to drive up the price of cotton. Then an atypical monsoon season flooded Pakistani mills. There was no rise in demand until the flooding issues in 2010. Add to that the rising costs of shipping – prices have gone from $3,500 to $5,000-6,000 per container – and you have the perfect storm for record-high cotton prices. We thought we had staved off increases … [Read more...] about Feeling the Impact of Climbing Cotton Prices
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