INDIA: India Textile Ministry seeks revision in cotton export procedures.
With traders having little experience in cotton exports carrying out the same, the textiles ministry of India has asked the commerce ministry to revise the procedures in this regard.
Egytex News Desk
Source: www.commodityonline.com
Recently, Textiles Secretary Rita Menon wrote a letter to Commerce Ministry Secretary Rahul Khullar seeking procedural revision.
Up to December 15, the power for determining the quota for exports was vested with the textile ministry which has now been taken away and deposited with the commerce ministry.
Currently, the export cap has been pegged at 5.5 million bales of cotton of which 3.8 million has been exported till December 15.
Now a cotton candy or 356 kg of cotton costs Rs 44,000 in the export market compared with Rs 33,000, the previous year.
Source: www.commodityonline.com
From the Egytex news archive, first published on 23 January 2011. Figures and names are as reported at the time.
