“However, cotton professionals have countered by saying that they have
already made commitments to export the fiber, and a ban would force them
to renege on those contracts, potentially doing irreparable damage to
important business relationships, according to the Ethiopian Cotton
Producers, Ginners, and Exporters Association (ECPGEA). ”
There is, however, a silver lining in this dark cloud for cotton
producers. If exports are banned and growers are forced to sell their
cotton only in the domestic market, they will be permitted to charge
international prices. That is a significant concession, given that the
current global price of $1.27 per pound is the highest it’s been in 15
years. ”