India Will Cancel The Ban On Cotton Exports In October 1St, June 22Nd.

Because there are many criticisms in India, the government banned cotton exports from being suspected of incurring textile lobbyists. As a result, the central government announced last Friday that new cotton will enter the market in October 1st and India will cancel the export restrictions on cotton in October 1st.

Commerce Minister Rahul Khullar said the current export restrictions will continue until September 30th.

New cotton will enter the market starting in October 1st.

The export of cotton will return to its original state and be exported in the form of open general license without any restrictions.

The director general of the General Administration of foreign trade put cotton into the restricted export list in May 21st, and the export must apply for a permit.

Prior to that, the General Administration of foreign trade stipulated in July 22, 2008 that all export contracts should be registered in the office of the Commissioner of textiles before shipment.

In April 19th this year, the Commissioner of textiles announced that all export contracts should be suspended for further orders.

India's actual export ban has been criticized for damaging the interests of India cotton farmers.

Last week, the federal cabinet decided not to raise the minimum price of unprocessed cotton for second consecutive years, leading to an escalation of criticism.

At the same time, when the export price is frozen, the minimum supporting price will be frozen, and the farmers must sell in the domestic market. Therefore, it will be unprofitable. The problem may be held at the political level.

The rainy season in Southwest China is coming, and cotton is being planted in the next 2010-11 years.

Cotton prices are rising in the international market and cotton exports are very attractive.

The benchmark Far East Cotlook A index is currently offering about 95 cents / pound, compared to 63 cents a year ago.

In 2008-09 (October -9), India exported 3 million 514 thousand packages, worth 38 billion 388 million 500 thousand rupees.

In 2010, as of April, India exported 7 million 376 thousand bales of cotton, and its annual output was about 29 million 200 thousand.

The rapid growth of exports led to lobbying in the textile industry, and since then the central government has restricted cotton exports.