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Cotton prices driving up clothes costs,[link widoczny dla zalogowanych]
Penney Co.,[link widoczny dla zalogowanych], and other US retailers may have to pay Chinese suppliers as much as 30 percent more for clothes as surging cotton prices boost costs.
Cotton futures in China have surged more than 70 percent this year and were at a record earlier. Production of the fiber in China,[link widoczny dla zalogowanych], the world biggest user and importer,[link widoczny dla zalogowanych], is forecast to lag behind demand for a 12th year,[link widoczny dla zalogowanych], cutting its stockpile to the smallest since 1995,[link widoczny dla zalogowanych], according to the Department of Agriculture.
Shandong Zaozhuang Tianlong Knitting Co.,[link widoczny dla zalogowanych], which makes Polo Ralph Lauren T-shirts and track suits for Le Coq Sportif Holding,[link widoczny dla zalogowanych], has raised prices as much as 70 percent from last year,[link widoczny dla zalogowanych], said sales manager Fred Hu.
Suzhou Unitedtex Enterprise Ltd.,[link widoczny dla zalogowanych], which sells $24 million worth of shirts and jackets annually to Gap,[link widoczny dla zalogowanych], plans to raise prices by 5 to 30 percent for products that will be available in April,[link widoczny dla zalogowanych], said Vicky Wu,[link widoczny dla zalogowanych], a sales manager for the clothes maker.
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