Cooley Group Supports your Corporate Challenge Teams
Cooley Group offers new Critical Care Lotion
As rescue and cleanup efforts continue in northern Japan, the impact of last week’s devastating earthquake and tsunami is beginning to be felt in the global economy. Most immediately, the price of Japanese-produced flash memory chips, which are used in items like personal computers, smart phones and USB drives, has risen sharply among fears of a supply shortage.
Amid concerns that global supplies may not satisfy rising demand – particularly in China – the price of cotton soared again this week, hitting an all-time high. At the close of a seven-day rally on Monday, cotton futures reached $2.197 per pound, which is more than double the cost of the commodity compared to this time last year. Prices finally stabilized mid-week following a report from the International Cotton Advisory Committee that global cotton output will rise 11% this year to a record 27.6 million metric tons. The increase in output is becoming more necessary, as China alone imported 390,720 metric tons of cotton in January, a 31% rise. China's Ministry of Commerce said the country will continue to actively expand its imports of cotton in 2011.