India, the world's No. 2 producer of cotton, bans all cotton exports, effective immediately. No...


India, the world's No. 2 producer of cotton, bans all cotton exports, effective immediately. No explanation of the embargo has been offered. Cotton futures jump 4.5% to $0.92.

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Comments (5)
  • billmichael
    , contributor
    Comments (141) | Send Message
     
    Oh, oh, Spandex is coming back...!!!
    5 Mar 2012, 07:24 AM Reply Like
  • spald_fr
    , contributor
    Comments (2814) | Send Message
     
    [No explanation of the embargo has been offered.]

     

    This is not the first time India has banned the export of cotton. Previously, it was a mechanism to cool local prices.
    5 Mar 2012, 09:10 AM Reply Like
  • zorrba
    , contributor
    Comments (428) | Send Message
     
    Some politicians bought futures.
    5 Mar 2012, 09:39 AM Reply Like
  • DougRk
    , contributor
    Comments (1901) | Send Message
     
    The promise of the reformers' election win in 2009 fades ever further. Same old same old in India. Which means there is not robust growth in the near future.
    5 Mar 2012, 12:30 PM Reply Like
  • moneyTalksBSWalks
    , contributor
    Comments (194) | Send Message
     
    Agree on the comment about some politician buying cotton futures and that being the motivation. This is India, there is usually a corruption/political angle to any knee jerk reaction.
    5 Mar 2012, 01:42 PM Reply Like
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