April 14, 2012
India to allow another 1.9 million bales cotton export
The government of India has decided to allow permission for fresh exports of 1.9 million bales of cotton.
The decision was taken by the director general of foreign trade after a review of export registrations.
The government had banned the export of raw cotton on March 5, 2012. This was revoked on March 12 following demands by the state governments of Maharashtra and Gujarat.
Subsequently, it was decided that all registration certificates (RCs) should be scrutinised before revalidation so that they could go ahead with their exports. Priority was be given to such cotont that had been pending for export through Land custom station on Indo-Bangladesh, Indo-Myanmar, Indo-Pak, Indo-Nepal and Indo-Bhutan borders. The next priority was to be given to cotton that had been handed over to the customs. Such cases were revalidated on March 23, 2012 and again on March 28, 2012.
As on April 11, 2012, RCs in respect of about one million bales were revalidated for exports, including the revalidation made on March 23 and 28, 2012, a government release said.