“India
is the world’s second biggest producer of cotton, earlier Govt allowed
5.5 million bales of cotton export which had to be completed before
December 15. ..The exporters couldn’t ship the entire quantity of
cotton as unseasonal rains delayed arrivals in the spot market. India is
also the second biggest exporter of the fibre. ..After bad weather hit the crops in China and Pakistan, there is an increased demand for India cotton abroad. ..India
is likely to produce more than 32.5 million bales of cotton in 2010-11,
higher than last year’s 29.5 million bales, industry and government
officials have said. Exports so far have been around half the allowed
amount after unseasonal rains hit supply and quality. ..The Govt will confirm about the extra time and quantity details only after studying and collecting ample data about it. ..The cotton arrivals in Indian markets have now increased up to 2.3 percent after a drier weather in December. ..”The
exporters will have to register contracts with Directorate General of
Foreign Trade (DGFT) before exports,” said a source at the Textile
Commissioner’s office. ET quoted. ..At first exporters only had to
register with the Textile Commissioner and the new requirement could
lead to delays in the export process. ”
Date:12/20/2010
Source:www.fibre2fashion.com