Cotton price in China hits 10-year high

The price of cotton in China has reached a 10-year high. The cotton price was 22 thousand 9 hundred yuan per ton on October 9th. That's 190 yuan higher than it was two days earlier.

Facing soaring prices, farmers have become reluctant to sell cotton. Insiders say speculation is the main reason behind the price hike. They say higher prices are not unexpected, but this year's price is abnormally high.

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