India: Allocates 1.9 million bales for exports
The Ministry of Commerce and Trade, Government of India allocated 1.9 million bales (170 kg each) for exports to 928 traders.
Egytex News Desk
Source: www.fibre2fashion.com
1.9 million bales are estimated to be remaining out of the export limit of 5.5 million bales. The government has given the traders until January 24th to submit the required documents, upon which the export approval will be given to proceed with physical shipments.
The scrutiny began on January 11th and will end on January 25th. Traders will have 30 days to fulfill their export obligations from the date of receiving approval to ship. The deadline for physical shipment will be February 25th.
The minimum allotment to a trader is 500 bales and a large number of traders have been allotted this limit. The list of 928 exporters has been made public and is available at the Directorate General of Foreign Trade (DGFT) website.
With the crop estimate for the 2010-11 season enhanced, there is a chance that India may ship beyond the 5.5 million bales limit. But, there is no information about this as of today.
Source: www.fibre2fashion.com
From the Egytex news archive, first published on 16 January 2011. Figures and names are as reported at the time.
