Investing
Cotton Prices Jump on India Export Ban (RL, LIZ, LULU)
Published:
Last Updated:
India has banned cotton exports, beginning immediately and lasting indefinitely. The move is causing some turbulence in the cotton market, where short positions reached nearly 8,300 contracts on predictions of a big cotton crop this year.
Clothing makers like Ralph Lauren Corp. (NYSE: RL), Liz Claiborne Inc. (NYSE: LIZ), and lululemon athletica inc. (NASDAQ: LULU), all major consumers of cotton, have not shown any effects yet in their share prices.
India’s weak currency has led to higher levels of exports this year, particularly to China. The government’s ban on exports is likely a move to try to boost prices. An international cotton board last week estimated total shipments by the end of the 2012-2013 crop year of 14.5 million metric tons, a jump of 1.6 million metric tons.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
