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Additional 10 lakh bales of cotton to be exported


June 9, 2011 - New Delhi

In the wake of a fall in prices of cotton in the domestic market, Union Commerce and Industry Minister Anand Sharma has announced export of additional 10 lakh bales of cotton during the current season.

"We had calculated earlier an exportable surplus of 55 lakh bales which was permitted. The GoM has decided to allow another 10 lakh bales. The total exports will now be 65 lakh bales in the current season," Sharma said.

He said the GoM took stock of the ground realities, the need of the industry and also the requirement of cotton for domestic consumption, till the next crop arrives in October.

The government had imposed a quantitative restriction on cotton exports in October when prices of the natural fibre had shot up. The restrictions on cotton exports came in for criticism from farmers' organisations and the Gujarat Government.

According to the official data of the Farm Ministry in 2010-11 a record produce of 339 lakh bales have been registered as compared to 242 lakh bales in the previous year.

ANI

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