Nicosia Predicts Cotton to Rally Near $1 Over Next Decade

Cotton growers may not be happy with current world prices. But patience may pay off over the next decade, predicted industry expert Joe Nicosia of Louis Dreyfus Commodites.

Nicosia, speaking to the International Cotton Association meeting in Dubai, expects cotton to rally to as high as $1 a pound in 10 years as fashion trends shift back to natural fibers, according to a recent Bloomberg report.

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He noted that prices will need to go lower to help clear out excess supplies before upward movement begins. The move back to natural fibers will help boost cotton’s share versus synthetics.

He optimistically stated, “Cotton’s future is so bright, we’ll have to wear shades.”

Click here to read the full report.

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