As you have most likely heard and read, textile costs in the U.S. and overseas have increased dramatically over the past 12 months. Cotton prices are increasing on a monthly basis. The worldwide demand for cotton continues to run well behind production, consequently prices will continue to rise.
Cotton prices have increased in excess of 150% since early 2010.
Polyester prices, which are oil based product, continue to rise as well. I am sure you see the increase at the local pump for gasoline. Every industry is competing for oil. Consequently, demand is driving price increases. With the floods in Pakistan and terrible weather in China and India, the volume of cotton grown in 2010 was well below expectations. The effect from Mother Nature combined with increased labor and transportation costs have also become a factor driving prices upward.
Cotton factories had very low production due to weak demand during the recesession. With the economoy picking up (in both the US and China), after devastating hits to cotton crops, production is well behind the demand.
We will always continue to provide the lowest possible prices while continuing our exceptional customer service. Please accept our apologies as we adapt to this unfortunate situation, as it is out of our control.
Below is a chart showing the price of cotton over the past 10 years, showing the spike in 2010-2011.