“While the exporters had earlier got the registrations from the Textile
Commissioner, the actual exports did not exceed three million bales. ” “..
Meanwhile, the administration of the exports was shifted from the
Textile Commissioner to the Directorate General of Foreign Trade (DGFT),
an arm of the Commerce Ministry responsible for trade related matters.
” “..
DGFT reopened registrations for the balance 2.5 million cotton bales. These closed on January 6. ” “..
“Allocations will be done on Monday,” Commerce Secretary Rahul Khullar
said, adding that traders could begin exports, immediately after
producing the necessary documents. ” “..
“Please produce your contracts and from January 11, the window opens for exports,” he said. ” “..
A group of ministers had allowed 5.5 million bales for exports during
the cotton season 2010-11, but exporters failed to ship the entire
quantity after unseasonal rains delayed arrivals in the spot market. ” “..
Disruption in production of the natural fibre in major growing countries
like the US, China and Pakistan due to adverse conditions has pushed
the demand for Indian cotton in the international market. ” “..
India is likely to produce more than 325 lakh bales of cotton in
2010-11, higher than last year’s 295 lakh bales. The textiles industry
has been clamouring for imposition of restrictions on exports of cotton
and cotton yarn, arguing that high prices are making their operations
un-viable. ”
Date:1/10/2011
Source:www.commodityonline.com