INDIA: India bans cotton yarn exports.
India Govt on Wednesday banned the exports of cotton yarn as a measure to curb high domestic prices. This would give some relief to the domestic industries in India.
Egytex News Desk
Source: www.commodityonline.com
The Govt earlier on Tuesday banned the exports of onion as the prices were hitting the floor for the last few weeks.
The garment manufactures earlier pleaded the Govt to intervene in the increasing prices of cotton yarn to save the industry.
The curbs on yarn exports came due to a 85% rise in global prices over the last nine months. Khullar said there was a tug of war between different segments of the textile industry yarn makers and fabric and garment manufacturers.
While the yarn makers decry the restrictions, the move has come in as a relief to garment makers, India Times quoted.
After the ban on onion exports last Tuesday, onion prices came down up to 50 percent low.
Source: www.commodityonline.com
From the Egytex news archive, first published on 23 December 2010. Figures and names are as reported at the time.
