EU, Mexico, Turkey and USA textile groups urge action against India on cotton

The Indian government has imposed export restraints on cotton since April.The Indian restraints have contributed to an enormous increase in the price of cotton for non-Indian textile producers around the globe. Since India began restricting the export of cotton in April, the price of cotton has increased by nearly 100 percent, from 62 cents per lb to $1.20 per lb. According to the Wall Street Journal, cotton prices have hit all time highs in recent weeks.

The Indian action has come as world supply of cotton has tightened amid increasing demand and disappointing cotton crops in several large producing countries. As the second largest exporter of cotton, India is enjoying one of its largest cotton crops in history but has dramatically restricted its exports over the last six months.