Cotton Futures Surge by Exchange Limit in N.Y. After India Bans Exports

Cotton for May delivery rose by the exchange limit of 4 cents, or 4.5 percent, to 92.23 cents a pound at 8:27 a.m. in New York. A close at that price would be the biggest one-day percentage gain since May 31.

India, the world’s second-biggest exporter, halted shipments until further notice, the Commerce Ministry said in a statement dated today.

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