Cotton Prices

Cotton prices averaged USD 81.72 cents per pound in May, up 9.1% from April. On 29 May, the commodity traded at USD 76.15 cents per pound, down 4.6% from 30 April.

In May, cotton prices extended their rally due to the U.S.–Iran war and surged to an over two-year high. Recent spikes in the price of oil—a key input in the production of cotton-substituting synthetic fibers—have made cotton a more attractive alternative, with polyester fibers continuing to trade at multi-year highs.