India May Cancel Cotton Export Qualification Criteria

　　 India The DGFT will announce the new cotton registration policy this week, and the new policy may cancel the cotton export qualification standard.

Last week cotton exports were taken by an open general licence (OGL) because of the ample inventory and the fall in cotton prices. The decision will apply to cotton in this year (October September). Officials said that when cotton exports were OGL, the eligibility criteria would not work. They said, "now, we want to know who is exporting and how much the quantity of exports is."

The new guidelines will require exporters to submit proof of volume. Officials say, however, that the new guidelines will continue to punish the licensee for not exporting cotton after registration. 9-10 exporters took the previous cotton export qualification to court. At the hearing, the Mumbai high court ordered the General Administration of foreign trade to extend the quota approval process to August 8th, and the original procedure expired in July 15th. The General Administration of trade will report the Supreme Court to the Supreme Court.

The General Administration of foreign trade said that only the entities who exported cotton in 2008-09 and 2009-10 could get the export quota of cotton, and the allocation of export quota should be carried out in proportion.

Last October, domestic raw material Prices have skyrocketed. In order to protect the domestic textile industry, the government set up a 5 million 500 thousand pack of cotton exports (170 kg / bag). After a steep fall in cotton prices, the government increased by 1 million packages in June.

Cotton prices fell to 31000 rupees / candy (356 kg) from 52500 rupees / candy at the end of March. At present, cotton trade price is 32500 rupees / candy. Cotton yarn Exit The ban was lifted in April 1st because manufacturers found that after limiting exports, they accumulated huge inventories.