India Government Cancels Cotton Export Restriction
Whereas
India
India's government has issued a notice on the adequacy of domestic cotton reserves and the fall in domestic market prices since August 1st this year.
Abolition of cotton export restriction
Cotton enterprises with export licences are permitted to engage in export business.
The notice said that the last two months of the cotton year (October 2010 ~2011 September), the exporter only needed to
General Administration of foreign trade
(DGFT) registration is subject to export approval without export quota restrictions.
It is understood that, in order to ensure sufficient raw materials for domestic textile industry, last October, the government of India
Cotton export
An export ceiling of 170 kg has been set up.
Since then, India's domestic cotton prices have been declining, stocks have risen sharply, while domestic demand has been decreasing.
Government representatives of India's 7 major cotton producing countries including Gujarat, Matt rashtray, Andrea and others sent a letter to the Ministry of agriculture, demanding the lifting of export restrictions to release excessive cotton stocks.
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