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Obstacles Emerging for Global Cotton Contract?

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.

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