Taiwan Mission to buy 410,000 Bales U.S. Cotton

A Taiwan mission plans to buy 410,000 bales (500 lbs/bale) of U.S. Cotton worth about 110 mln U.S. Dlrs when it visits several U.S. States early next month, a spokesman for the Taiwan Spinners Association told Reuters.

He said a similar mission last year bought 700,000 bales worth 77 mln dlrs.

He said the mission was buying less U.S. Cotton because the price is some 15 pct higher than that of cotton from Pakistan and India. The current average price of U.S. Cotton is 75 cents/lb, but the spokesman estimated the average price will be 53 cents when the shipments are made next year.