COTTON YARN PRICES RISE IN THE SUBCONTINENT
April 1st, 2010
BY RAGHAVENDRA VERMA
WITH an aim to moderate the domestic prices of cotton yarn, last week the Indian government said it would suspend a 7.5% duty concession for exporters - essentially raising the price of Indian cotton by 3.5% on world markets (because of a complex formula framing these tariffs). This could have a major impact on already-rising international yarn prices, as India is the second largest producer of cotton in the world - exporting five million bales (170 kg each) of cotton last year alone, mainly to Hong Kong, China, Pakistan and Bangladesh.
But ...
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