Low price of cotton hurts farmers – cotton price drops to lowest level ever

According to a report by the British “Financial Times” on December 9, cotton prices have fallen to the lowest level in five years. Cotton farmers in southern Africa and as far away as Texas in the United States are complaining that falling cotton prices have made life extremely difficult. In China, due to various factors such as God’s mercy and government support for large-scale cotton planting, cotton prices this year are below 60 cents per pound – the lowest level since 2009.