“Since the Indian prohibitions and bans began in April 2010, the world price of cotton has increased by almost 100 percent, from approximately 80 cents per pound to more than $1.50 per pound. Other than that, we believe that the Indian government action violates articles VIII, XI and XIII of the GATT agreement.
“We understand that India will maintain that the export ban was a temporary measure designed to deal with a critical shortage of cotton in India. However, the data that we have does not suggest the dramatic price increase that the Indian government is suggesting, prior to the announcement of the first export ban. In fact the India cotton price (the Shankar-6 price) had gone from 75 cents per pound on 8th January, 2010 to 80 cents per pound just before the export ban was announced in April.
“Given the world cotton price surge from July to now, from 80 to 150 cents per pound, a price surge could not be the reason behind the initial export ban”, he concluded by saying.
Fibre2fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
