The Indian government will allow 2.5 million bales of cotton to continue exporting

Indian Industry and Commerce Minister Anand Sharma said on December 24, 2010 that while the government approved the export of 5.5 million bales before December 15, 2.5 million bales of cotton have not yet been shipped, and the government will allow 2.5 million bales of cotton. Continue to export.

The minister told the author that almost 2.5 million bales of cotton have not yet been exported, so the government will allow this part of cotton to continue exporting.

This year, the government has restricted the export of cotton to a maximum of 5.5 million bales in order to prevent a sharp increase in domestic prices.

The total number of export contracts registered by the Textile Commissioner’s Office was 5.24 million. Export registration ends on December 15. However, the exporters failed to complete the export of all 5.24 million bales of cotton before December 15, resulting in the lapse of export registration.

Exporters have repeatedly asked the government to review the contract and give them more time to complete the export.

Sharma said that the government will allow exporters to export the remaining cotton, but he did not say whether it will review the registered contract, or whether the exporter needs to apply again.