As the news of the ban came out Australia's agriculture minister had just launched a report predicting that Australia would double its cotton exports between 2010 and 2013.

ECONOMIST: Cotton exports

Another first-time clan is the Yangs, which whose cotton shirt manufacture Esquel has overcome rising costs on the mainland and see its sales more than double in the past six years.

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The situation was more grave for value-based retailers such as Aeropostale as it was facing a double-whammy on its margins, first from the increase in production costs due to rising cotton prices and second from the increase in promotions due to stiff competition in challenging retail environment.

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