The May 2026 contract settled at 75.11 cents per pound, up 0.77 cent or 1 per cent. The most traded contract of July 2026 rallied 0.90 cent or 1.20 per cent to settle at 77.42 cents per pound. It had touched an intraday high of 77.75 cents, marking its highest level since July 2024. Other contracts also rose to reach a high level.

ICE cotton surged to a 22-month high, led by a weaker US dollar, firm crude oil and drought concerns in key US regions.
The July 2026 contract hit its highest since July 2024.
Strong trading volumes and rising synthetic fibre costs supported demand, while weather risks and macro factors kept market sentiment firmly bullish.
Deliverable stocks remained unchanged, signalling tight supply conditions.

Total trading volume was recorded at 98,489 contracts, reflecting strong participation and sustained buying interest.

Crude oil prices remained firm as supply disruption concerns persisted due to ongoing geopolitical tensions involving Iran. Markets reacted to mixed signals after statements indicating a possible end to the US-Iran conflict, but uncertainty kept oil prices supported. The conflict has effectively disrupted flows through the Strait of Hormuz, which handles nearly 20 per cent of global oil and gas shipments along with key commodities like fertilisers. Elevated crude oil prices are increasing polyester fibre production costs, thereby supporting cotton demand as a substitute fibre.

The US dollar index edged lower and traded in a narrow range as investors assessed the likelihood of renewed US-Iran negotiations. A weaker dollar made US cotton more competitive in global markets, providing additional support to export demand.

According to market analysts, high crude oil prices and rising synthetic fibre costs are key drivers supporting the cotton market, along with the impact of a weaker dollar.

The ongoing drought conditions in the United States also continued to pose risks to crop development unless weather conditions improve. Weather conditions in major US cotton-producing regions remain dry, reinforcing concerns over crop health, yield potential, and overall supply outlook.

ICE data showed that deliverable No. 2 cotton futures stocks remained unchanged at 159,512 bales as of April 14.

Broader financial markets showed strength, with the S&P 500 and Nasdaq closing at record highs driven by strong corporate earnings and optimism around geopolitical developments. CBOT wheat futures rose for the third consecutive session and have gained nearly 4 per cent so far this week due to drought conditions in the US Plains impacting crop prospects.

Cotton futures remain in a strong bullish phase with prices at multi-month highs, supported by macroeconomic factors such as a weaker dollar and firm crude oil, along with fundamental support from adverse US weather conditions. Market sentiment continues to favour further upside in the near term.

This morning (Indian Standard Time), ICE cotton for May 2026 was trading at 75.98 cents per pound (up 0.87 cent), cash cotton at 73.11 cents (up 0.77 cent), the July 2026 contract at 78.32 cents (up 0.90 cent), the October 2026 contract at 78.94 cents (up 1.37 cent), the December 2026 contract at 79.10 cents (up 0.75 cent) and the March 2027 contract at 79.85 cents (up 0.66 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)

Driven by growing customer appreciation it is for high quality, functional clothing, the new stores are part of UNIQLO’s ongoing expansion in India, bringing its LifeWear philosophy, clothing designed make everyday living better to more customers across the country.

Uniqlo will open two new stores at Phoenix Market City Pune (May 15) and Phoenix Marketcity Bengaluru (June 5), each spanning around 21,000 sq. ft.
The expansion reflects rising demand for high-quality everyday wear.
Both stores will offer the full LifeWear range and a modern shopping experience, strengthening the brand’s presence in key urban markets.

“The response from our customers in India has been incredibly encouraging, especially in cities like Pune and Bengaluru where there is a growing demand for simple, high-quality everyday clothing,” said Kenji Inoue, Chief Financial Officer and Chief Operating Officer, UNIQLO India. “With these new stores, we look forward to reaching even more customers and continuing to bring LifeWear to people across India.”

The Pune store at Phoenix Market City and the Bengaluru store at Phoenix Marketcity Bangalore will each span approximately 21,000 sq. ft., offering UNIQLO’s full range of LifeWear for men, women, and children. Designed to deliver a seamless and engaging shopping experience, both locations will feature modern store layouts alongside the brand’s signature visual identity.

Further details about the store opening, including opening date, special offers, and opening celebrations, will follow in the coming weeks.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (JP)

The drop reflects mounting pressure on households from surging fuel prices and rising interest rates, which have triggered what analysts describe as a renewed ‘cost of living’ shock. Average petrol prices rose to $2.4 per litre in early April, recording the largest increase in the survey’s history, driven in part by geopolitical tensions following the US-Israel conflict involving Iran, Westpac said in its latest report.

Australia’s consumer sentiment plunged 12.5 per cent in April to 80.1, marking the sharpest fall since COVID, as rising fuel prices and interest rates triggered a fresh cost-of-living shock.
Household finances and near-term expectations weakened significantly, while job loss fears hit a multi-year high.
Housing sentiment remained subdued, and further rate hikes are expected as inflation persists.

Matthew Hassan, head of Australian macro-forecasting at Westpac, noted that the sharp deterioration in sentiment signals consumers are bracing for a prolonged period of economic weakness similar to the 2022–24 inflationary phase. “The April sentiment drop is the biggest monthly decline since the onset of the COVID pandemic,” he said, adding that the index remains near historical lows.

All major components of the index weakened, with the most significant declines seen in current conditions. The sub-index tracking family finances compared to a year ago fell 16.7 per cent to 66.8, reflecting the heavy burden of rising fuel costs. Meanwhile, the ‘time to buy a major household item’ index dropped 15 per cent to 83.3, underscoring subdued consumer spending intentions.

Forward-looking indicators also deteriorated. Expectations for family finances over the next 12 months declined 13.9 per cent, while economic outlook expectations for the same period fell 12.4 per cent. Persistently high fuel prices, exacerbated by disruptions in the Strait of Hormuz, and expectations of further rate hikes are weighing on consumer confidence.

Concerns over borrowing costs have intensified, with the Mortgage Rate Expectations Index rising 3.9 per cent to 177.2. More than 80 per cent of respondents anticipate higher mortgage rates over the next year, with 40 per cent expecting increases exceeding one percentage point.

Labour market sentiment has also weakened notably. The Unemployment Expectations Index rose 9.7 per cent to 147.8, its highest level since August 2020 outside the pandemic peak period. Job loss fears have risen most sharply in sectors such as construction and hospitality, which are particularly sensitive to energy costs and interest rate changes.

The sentiment downturn was broad-based, with declines recorded across the majority of demographic groups, especially in regional areas and energy-sensitive industries. Despite a relatively stable medium-term outlook, the near-term shock suggests Australian households are entering another phase of financial strain.

With inflation still above the Reserve Bank of Australia’s target range and energy costs expected to remain elevated, markets anticipate a further 25 basis point rate hike at the central bank’s upcoming May policy meeting, with additional tightening likely later in the year.

Fibre2Fashion News Desk (SG)