Government of India
has set the export limit of 5.5 million bales allowing the physical
shipment from November 1, 2010. Exporters are allowed to export with an
approved Export Authorization Registration Certificate (EARC). Shipment
period is restricted to 45 days from the date of issue of EARC by the
government or December 15th, whichever is later. From sources, it is
clear that the target export limit of 5.5 million bales has not been
reached by the December 15th deadline..
As of December 16, 2010 (8.00 hrs IST), Government of India has issued
EARC for 50 lakhs 23 thousand 1 hundred and 40 bales (roughly 5.02
million bales of 170 kg each). The government has rejected the export
registration for 2 lakhs 72 thousand and 720 bales (roughly 0.27
million bales of 170 kg each). Per an official notification from the
Office of the Textile Commissioner, India dated September 30th; the
deadline for the shipment of the allowed 5.02 million bales was
December 15th. Although, it will take a few weeks to know the actual
exported amount, estimates are that 2.5 to 3 million bales would have
been shipped by the December deadline. This leaves a shortfall of 2.5
to 3 million bales per the allowable maximum limit of 5.5 million
bales. ”