Cotton futures rally over 4% on India export ban

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By Myra P. Saefong

SAN FRANCISCO (MarketWatch) — Cotton futures rallied Monday, poised to end a three-session decline, after India’s Commerce Ministry banned cotton exports until further notice, raising concerns about global supplies. May cotton climbed 4 cents, or 4.5%, to 92.23 cents a pound on the ICE Futures U.S. exchange. Dow Jones Newswires said the ban was the second in nearly two years in response to concerns about local supplies.

Source: http://www.marketwatch.com/story/cotton-futures-rally-over-4-on-india-export-ban-2012-03-05

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