INDIA: India may limit Cotton Export Volume.
India is expected to limit volume of cotton export in order to ensure enough supplies in the domestic market and also to check high prices.
Egytex News Desk
Source: www.commodityonline.com
An official who related to the Ministry said, a high ranking Ministerial panel will consider whether to limit the volume of cotton that to be exported in the next marketing season.
India, the second largest cotton producer in the world, had banned cotton export due to the price of commodity rose sharply driven by lack of availability in the domestic market.
The government announced that it will scrap the license rule, mandatory for each consignment, from October 1, the start of the next marketing year. The licensing system was imposed in May after a month-long ban was lifted to balance the interests of farmers and the textile mills.
India's exports are estimated at 8.3 million bales in 2009-10, more than double the 3.5 million bales a year before, mainly because of higher global prices and a lack of restrictions until April.
Source: www.commodityonline.com
From the Egytex news archive, first published on 22 August 2010. Figures and names are as reported at the time.
