All cotton imports through the Benapole Port were suspended since the
Indian government, intending to ensure adequate supply of the commodity
to domestic textile units, imposed a ban on its exports in April..
As India suspended its cotton exports, the cotton prices escalated to
an all-time high of $1.19 per pound in the global market last month.
All these factors greatly disturbed Bangladesh and China, as both the
countries rely on imports to fulfil the cotton requirements of textile
units in the country..
Experts say that, the rise in the price of cotton is mainly due to the
massive floods, which devastated a large quantity of cotton crop in
Pakistan, which is the world’s fourth biggest cotton manufacturer, and
also the ban imposed by the Indian government on exports of cotton” .
Date:11/10/2010
Source:www.gn4me.com