Cotton futures contract reached a 7.5-year high in August as falling global supply gave a boost to demand from China. A report by execution-only service provider Capital.com says, the benchmark intercontinental exchange (ICE) cotton contract for October delivery hit 96.27 cents a pound (lb) on August 27. Although prices have fallen since, they stabilized around 95 cents. Starting at 77.31 cent a pound this year, the price index on cotton futures surged in the next two months as demand recovered post-COVID-19.
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