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    Five Companies Took 51% Cotton Export Licences Issued By India.

    2010/10/12 10:00:00 55

    India Cotton

    Five companies have passed the 51% issued export authority registration permit (EARC), allowing shipment.

    cotton

    The quantity is 850 thousand packs, and the weight is 170 kilos each.


    The central government has allowed the registration of cotton export contracts from October 1st. As of Saturday, the textile Commissioner's office has received 996 applications for shipment, close to 4 million packages.


    Registration does not mean that exporters can expect to deliver goods, but obtain them.

    EARCs

    It means ensuring that the shipment starts from November 1st, but must comply with the regulations issued by the government at that time.


    The central government allowed the export of 5 million 500 thousand bales of cotton from November 1st.

    Sense of achievement

    Export license (EARCs) will only be issued after satisfaction.


    According to the data released by the textile Commissioner's office, Global Trading Company, such as Cargill international, Louis Da FOK and Oran international, takes away 11% of the issued EARCs.


    The Mumbai based Bhadresh trading company takes away 20% of the licences issued, allowing the total number of exports to total 181 thousand packages, ranking among the top companies.


    The number of export licenses issued by DML import and export company in rakkat totaled 94117 packages, while another Jaydeep company in Raj Kat cotton received 66323 package export licences.

    In fact, the three companies got 40% of the export licenses.


    The other companies got the license, the Gill private limited company in Mumbai got 54076 packages, the KKM International Limited company in Mumbai got 47058 packages, the Kolkata company in Calcutta got 44411 packs, MEP cotton limited company got 44117 packs, if the four companies were added, the largest 7 companies got 62% export licenses.


    Cargill India private limited received 38000 packages of export licences, and 33823 and 26529 bales were sold in Oran international, India and Louis Stafford, respectively.


    India textile industry officials say at least 80% of cotton exports are concentrated in the hands of a small number of exporters.

    These exports can not benefit farmers, because sellers of cotton for these exporters are cotton traders, not growers.

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