High cotton prices have also had an effect on Chinese polyester prices which have risen to the highest level seen in 17 months, according to the textile index. This came after high cotton prices made producers switch to polyester.
Prices for Australian wool are currently at a 16-month high after rising 11 percent from the beginning of the year, after production in 2015 to 2016 was down 6 percent compared to the previous year. Production fell when there was a slowdown in the volume of sheep that were shorn, down 5 percent over the same period.
Meanwhile, prices in China of viscose — a viscous orange-brown solution that is used as the basis of manufacturing rayon fibre and transparent cellulose film — reached a four year high in September.
This was due to the temporary closure of production plants ahead of the G20 summit in an attempt to reduce air pollution.
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