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China Daily | Updated: 2014-04-09 07:15
Cotton futures prices rally by most in more than 1 year
Cotton futures prices in China rose by the most in more than a year as the world's largest producer and consumer of the commodity set a higher-than-expected reference price to subsidize farmers in the Xinjiang Uygur autononous region. The commodity for January delivery on the Zhengzhou Commodity Exchange climbed 2.4 percent to 16,210 yuan ($2,613) a metric ton, the biggest gain for a most-active contract since January of 2013.
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