India’s Central government has
decided to allow mills to export 55 lakh bales of cotton abruptly from
the start of next season October 1, the official who declined to be
named said.However, the government would levy export duty of Rs 2,500 per ton for the export beyond the 55 lakh bales, he added.India’s
cotton production in the year 2009-2010 stood at 292 lakh bales. One
bale is equal to 170 kg. However, exporters will have to register their
overseas contracts with the Textiles Commissioner. The registration
process is scheduled to start from September 15, he said. ”
Date:9/5/2010
Source:www.mcot.netl