India Ends Cotton-Export Ban on Growers, China Protest
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India, the world’s second-biggest cotton producer, scrapped a one-week-old ban on exports after protests from growers, traders and China, the nation’s largest customer. Prices dropped.
“Keeping in view the interests of the farmers, industry, trade, a balanced view has been considered by the Group of Ministers to roll back the ban,” Trade Minister Anand Sharma said in an e-mailed statement yesterday. Shipments of as much as 3.5 million bales registered with the ministry prior to the ban will need to be revalidated, Commerce Secretary Rahul Khullar said today. Fresh registrations will not be permitted until further notice, he told reporters in New Delhi.