“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. ”
Date:8/22/2010
Source:AL Masry Al Youm Newspaper