India Bans Cotton Exports

Agricultural , Cotton Mar 06, 2012 No Comments

Cotton ballsFront-month prices on ICE Futures U.S. rose 6%, or 5.25 cents, to settle at 92.71 cents a pound, while the more actively traded May-delivery contract surged by the exchange-permitted daily limit of four cents to settle at 92.23 cents a pound. The front-month contract, for March delivery, was exempt from the limit because it is in the period in which traders state whether they will deliver or accept physical cotton against the contract.

India is once again pulling the strings in the cotton market.

The world’s second-largest producer of the fiber after China unexpectedly announced an immediate ban on cotton exports, sending benchmark futures prices soaring.

via India Bans Cotton Exports – WSJ.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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