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India bans export of cotton!

 
Baba Cha
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User ID: 11769803
Australia
03/05/2012 03:53 PM
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India bans export of cotton!
What do they know? I've never seen this before..perhaps the Australian floods?

India’s Commerce Ministry announced on Monday a ban on cotton exports until further notice, sending traders scrambling on concerns about global supplies, and lifting prices for the commodity by the daily limit on the ICE Futures U.S. exchange.


“The entire cotton industry was apparently caught off guard by the export embargo of cotton out of India,” said Mike Stevens, a Louisiana-based cotton analyst.




[link to blogs.marketwatch.com]
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