Clothing to cost more as cotton prices surge

Cotton prices are up for a fifth day in New York, after jumping 4% last week on speculation demand will rise in top user China. (File pic shows a farmer harvesting cotton in Egypt)

NEW YORK: Cotton extended a rally to its highest price since January 2012 with crop concerns in top shipper the United States compounding a tighter supply scenario driven by strong demand.

Prices are up for a fifth day in New York, after jumping 4% last week on speculation demand will rise in top user China.