India to allow cotton exports from November
Thursday, 30 September 2010
TEXAS, Sept 29 (Commodity Online): India has decided to allow cotton exports from November 1. The decision was taken at the high powered cabinet ministerial committee in India chaired by the finance minster that included agriculture minister, commerce minister and the textile minister on September 28th has decided to allow cotton exports from India from November 1.
The registration for exports will begin on October 1st with no export duty for the allowable target of 5.5 million bales (170 Kg/bale). Nayan Mirani, of Khimji Visram and Sons, Mumbai, who is also the Vice President of the Cotton Association of India spoke to this writer from Champaign, IL, USA and broke the news on the decision of India's Government on cotton exports.
Mirani said that he was pleased with the decision of the government to allow exports, which will create certainty in the market. However, he felt that exports should have been allowed from October 1st as announced earlier.
He emphasised that India's cotton farmers should get the price at international level. According to the country report submitted by India at the International Cotton Advisory Committee's 69th plenary meeting in Lubbock, USA last week, the cotton acreage during 2010-11 season is expected to be 11 million hectares and the production is expected to be 5.53 million metric tons which is 10 per cent improvement over 2009-10 season.
The registration for exports will begin on October 1st with no export duty for the allowable target of 5.5 million bales (170 Kg/bale). Nayan Mirani, of Khimji Visram and Sons, Mumbai, who is also the Vice President of the Cotton Association of India spoke to this writer from Champaign, IL, USA and broke the news on the decision of India's Government on cotton exports.
Mirani said that he was pleased with the decision of the government to allow exports, which will create certainty in the market. However, he felt that exports should have been allowed from October 1st as announced earlier.
He emphasised that India's cotton farmers should get the price at international level. According to the country report submitted by India at the International Cotton Advisory Committee's 69th plenary meeting in Lubbock, USA last week, the cotton acreage during 2010-11 season is expected to be 11 million hectares and the production is expected to be 5.53 million metric tons which is 10 per cent improvement over 2009-10 season.