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Politics : Politics for Pros- moderated

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From: DMaA	3/6/2012 6:24:15 PM
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Expect clothing prices to go up: India bans cotton exports By Parija Kavilanz @CNNMoney March 5, 2012: 4:44 PM ET . NEW YORK (CNNMoney) -- India banned all cotton exports on Monday, causing U.S. cotton futures to surge and igniting fears of another jump in prices for cotton goods. India decided to immediately impose the ban because it's worried about a possible supply crunch in the country. One reason: India's cotton exports may have overshot government targets last year, its Directorate General of Foreign Trade said in a statement. U.S. cotton futures jumped 4.5% -- the most allowed in a single day of trading -- to 92.23 cents per pound following the news. "This India development really caught the entire cotton industry and traders off guard because it came with no warning," said Phil Flynn, senior market and commodities analyst with PFG Best. money.cnn.com

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