Tuesday, May 1, 2012

India allows exports, cotton prices drop

There has been an unseemly and very public spat between the commerce and agriculture ministries over a surprise March decision to ban Indian cotton exports. India finally decided on Monday to ease a nearly two-month restriction on cotton export permits, removing all barriers to shipments. Cotton prices fell by 2 percent on the back of the news as global commodity traders rejoiced that India had finally brought clarity to a muddled situation.

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