Summary Box: Cotton down as India lifts export ban

AP News
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Posted: Apr 30, 2012 3:50 PM
Summary Box: Cotton down as India lifts export ban

SPEED BUMP: Cotton prices fell 2 percent after India lifted an export ban on the fiber. The price is less than half what it was a year, ago when shrinking inventories and stronger demand sent prices over $2 per pound.

INDIA'S COTTON: India, the world's second-largest exporter of cotton, reversed a ban imposed in early March. It plans to review the decision a couple of weeks.

SLOWER GROWTH: U.S. consumer spending slowed in March and Spain fell back into recession. The news sent prices for gold, silver and platinum lower. Grains, beans and oil rose.