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.

To contact the editor responsible for this story: Millie Munshi at mmunshi@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.