CHINA: India to fix cotton exports quota
Prior to resume cotton exports, India said it will fix the export quota after deciding on the domestic demand and the production.
Egytex News Desk
Source: www.commodityonline.com
Country’s commerce ministry has called a meeting of officials of the agriculture, commerce and textiles ministries Sep 1 to discuss cotton exports.
India has decided to lift restrictions on cotton exports from Oct 1.
The textiles and agriculture ministries would be asked to submit the demand and production figures respectively. The excess supply over demand will be allowed to be exported without duty.
Cotton production is expected to go up slightly to 5.1 million tonne in 2010-11 as against 5.01 million tonne last year. The domestic demand is expected to touch 4.59 million tonne.
Source: www.commodityonline.com
From the Egytex news archive, first published on 1 September 2010. Figures and names are as reported at the time.
