The Government Of India Extends The Final Shipment Date Of Cotton Exporters.
The India government has finally decided to extend the final shipment date for cotton exporters because
Exporter
It is not possible to complete the export of cotton registered in the office of the Commissioner of textiles by December 15th.
The government of India has approved the export of 5 million 500 thousand bales of cotton (170 kilograms per pack) before the deadline of December 15th.
However, to the final date, cotton exporters only export 3 million 20 thousand bales of cotton.
foreign
Trade
In December 16th, the General Administration (DGFT) issued a circular that the General Administration will take over, check and verify all cotton exports from India in the future.
In August, the General Administration of trade pferred these rights to the office of the textile commissioner.
Experts say they believe the government will extend the export time to cool the market, because the price of cotton has risen 12% to 42500 rupees / candy (1 candy = 355 kg) after notification from the General Administration of foreign trade.
The India Cotton Association released the latest cotton forecast in December 18th. The Association expects cotton production to be 34 million 750 thousand packs, with the latest estimate below 35 million 700 thousand of its October estimate.
In November, the cotton growing areas in India experienced untimely rain, especially in the Andhra Pradesh.
Cotton yield
Estimate.
The Cotton Advisory Committee estimated cotton production in India at 32 million 500 thousand packs in October, but has not yet announced its latest estimate.
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