India Issued Export Licences For 100 Thousand Bales Of Cotton.

2010/6/9 10:05:00 19

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according to

Industry insiders

It is revealed that the government of India has started issuing permits for cotton exports to Pakistan and Bangladesh.

First, a license is issued for about 100000 bales of cotton from about 12 exporters.

All cotton exports will be subject to an export tax of 2500 rupees / ton.

The General Administration of foreign trade (DGFT) has received about 1 million 300 thousand bales of cotton export licence applications, which are registered before export ban.

In May this year, the government listed cotton, waste cotton, combed / combed cotton on the list of items restricting exports, and each batch of exports needed to apply for a permit at the General Administration of trade.

The purpose of this regulation is to improve the domestic level.

cotton

Supply, lower prices.

However, the new registration was suspended in April 19th, and the exporter was informed that the Commissioner of textiles would re evaluate the previously registered export contracts.

Informed sources said that if the government issued permits for all outstanding export orders, India exports will increase to 3 million 500 thousand bales from about 8000000 last year in the 2009-10 years (October -9 months).

Levy export duties, suspend export registration, and enforce mandatory

Export license

Before the system, the Cotton Advisory Committee predicted that 8 million cotton would be exported in 2009-10.