India Allowed Export Of Cotton At Most 5 Million 500 Thousand Bags Since October 1St.

The comprehensive media reported on September 6th that India will allow export of cotton at most 5 million 500 thousand bags for export from October 1st, and has not quantified the volume of shipments.

India commerce minister Kohler (Rahul Khullar) said 4 days, once the cotton export reaches the upper limit, the export tariffs will be expropriate.

Kohler said it initially estimated the annual output of the next cotton crop starting from October 1st to be 32 million 500 thousand bales (170 kg / pack), which is 10% higher than that of India cotton in 2009-10.

Kohler said that the relevant departments have reached a consensus on the export volume of 5 million 500 thousand bags of cotton.

Basu, Minister of agriculture (P.K. Basu), said that the export volume of 5 million 500 thousand bales of cotton was mainly determined by crop yields, and the data would be changed according to the revision of production expectations.

Ba Su said that this is a pitional arrangement, rather than an absolute restriction on exports.

On the 3 day, at the beginning of the week, government officials said that a group of senior officials had calculated the cotton consumption and the minimum inventory demand of the factory, and decided to allow the extra 5 million 500 thousand bales of cotton to be exported for the next year.

One official said that India did not seem to restrict cotton exports in the New Year beginning in October 1st.

To avoid local supply shortages, the textile sector had earlier proposed that surplus surplus cotton should be allowed to export only in 2010-11.

The Ministry has also roughly calculated the stock of India's cotton surplus bank in 2010-11, about 4 million 950 thousand bales.

India is the second largest cotton producer and exporter in the world, and the export of cotton in 2009-1 is expected to reach 8 million 300 thousand packages.

The Minister of Commerce of India said that a meeting will be held in November 15th to conduct a re examination to determine export volume and actual cotton output. If necessary, the maximum value of cotton exports will be revised and the trend of cotton prices will be predicted.

Kohler said India will also raise the export tax on cotton from October 1st.