Sept. 9 (Bloomberg) -- Cotton futures rose to a one-week high on signs that demand will increase in China, the worldΆs largest importer.

China plans to buy cotton to build reserves after prices stay below a trigger price for five straight days, cncotton.com said in a statement, citing ChinaΆs National Development and Reform Commission. Last week, futures in New York touched a three-month low.

“The Chinese stockpile program is an attempt to lock in large supplies of cotton near the recent low prices,” Michael Smith, the president of T&K Futures & Options Inc. in Port St. Lucie, Florida, said in an e-mail. “This may also stabilize prices over the near term.”

Cotton for December delivery gained 0.3 percent to settle at 83.5 cents a pound at 2:30 p.m. on ICE Futures U.S. in New York. Earlier, the price reached 84.33 cents, the highest for a most-active contract since Aug. 30.