Obstacles Emerging for Global Cotton Contract?

IntercontinentalExchange (ICE), with the support of the International Cotton Association and the American Cotton Shippers Association, is working to finalize details for a new global cotton contract that will be based on cotton grown in five continents instead of the U.S.-only emphasis in the longstanding Cotton No. 2 contract.

However, reports the Financial Times, the coordination of efforts needed to launch the new contract – targeted for the fourth quarter of this year – is running into bureaucratic obstacles in Malaysia, one of the contract’s proposed shipping points.