BRYAN, Texas (KBTX) – Over the past year, the price of cotton has steadily increased. The sudden increase in the value of the crop has impacts that we will see when it comes to shopping for clothes. According to the government’s inflation report, clothing prices have risen 4.2 percent over the past year.
Texas A&M Agrilife Extension professor and economist John Robinson has studied cotton trends and says the biggest he has seen in prices has come in the past week and a half.
“Cotton prices have been trending, which I would say are pretty good levels in the 80s and 90s. And here, in the last 10 days, it has exploded. I’m going to say about 15 cents, which is a huge move, ”says Robinson.
When it comes to changing how much someone spends on clothes. while cotton plays a role in price, other factors such as cost of manufacture, shipping cost, and overall brand add up to this final total. If the demand for cotton gets out of hand, farmers will be ready to grow more when needed.
“Before clothing prices affected a lot, what would happen is that a high cotton price that persisted would cause farmers here in the United States to plant an additional two to three million acres and that would happen. would produce all over the world, from Indian farmers to Brazilians. Farmers. They would respond to the high prices by actually increasing the supply, ”says John Robinson.
Other notable items that the price of cotton might reflect on are towels, linens, coffee filters, and fabric bags.
Copyright 2021 KBTX. All rights reserved.