The China Cotton Association issued a solemn statement to protest against India’s ban on cotton exports
On March 7, the China Cotton Association (referred to as the “China Cotton Association”) issued a solemn statement titled “India’s cotton export ban policy seriously disrupts the international trade order”, hoping that the Indian government will promptly correct this disruption to the international trade order. erroneous policies and abide by international trade rules.
On March 5, the Indian Ministry of Industry and Commerce suddenly issued a cotton export ban and decided to ban Indian cotton exports from now on. This is the second time the Indian government has introduced a policy to restrict cotton exports after 2010. The China Cotton Association stated that this irresponsible behavior has resulted in the invalidation of a large number of signed contracts.
On behalf of the industry, the China Cotton Association wrote to the Indian Ministry of Industry and Commerce and the Indian Cotton Association to express strong protest against the Indian government. The statement said that the Indian government frequently introduced policies banning cotton exports, causing Chinese companies to suffer undue and huge losses. This move not only disrupts the global cotton trade order and artificially distorts international cotton prices, but also brings production and operation risks and huge losses to textile companies and traders.
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