India Issues Export License For 100000 Bales Of Cotton

According to industry sources, Government of India Permits for cotton exports to Pakistan and Bangladesh have begun.

First, licenses were issued for about 100000 bales of cotton from about 12 exporters. All cotton exports will be subject to an export tax of 2500 rupees per ton.

The General Administration of foreign trade (dgft) has received export license applications for about 1.3 million bales of cotton, which are banned exit Previous registration.

In May this year, the government put cotton Waste cotton and combed / combed cotton are listed on the list of export restricted items, and each batch of export needs to apply for a license from the General Administration of trade.

The purpose of this regulation is to improve domestic cotton supply and reduce prices. However, on April 19, the new registration was suspended and the exporter was informed that the textile Commissioner would re evaluate the previously registered export contracts.

If the government licenses all pending export orders, India's exports will increase to more than 8 million in 2009-10 (October September) from 3.5 million in the previous year, according to people familiar with the situation.

Prior to the imposition of export taxes, the suspension of export registration and the implementation of the mandatory export licensing system, the Cotton Advisory Committee had expected to export 8 million bales of cotton in 2009-10.