SINGAPORE: Benchmark US May cotton futures rallied more than 4 percent to a high of 92.23 cents a pound on Monday after India banned exports.
The move also boosted Shanghai futures by more than 1 percent.
India has banned cotton exports with immediate effect, the Directorate General of Foreign Trade (DGFT) said on Monday, as the world's second-largest exporter of the fibre moves to conserve supplies for local mills.
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