“Recently, Textiles
Secretary Rita Menon wrote a letter to Commerce Ministry Secretary Rahul
Khullar seeking procedural revision. ..Up to December 15, the
power for determining the quota for exports was vested with the textile
ministry which has now been taken away and deposited with the commerce
ministry. ..Currently, the export cap has been pegged at 5.5
million bales of cotton of which 3.8 million has been exported till
December 15. ..Now a cotton candy or 356 kg of cotton costs Rs 44,000 in the export market compared with Rs 33,000, the previous year. ”
Date:1/23/2011
Source:Business Recorder