India Issues Export License For 100000 Bales Of Cotton

According to insiders, the Indian government has started issuing permits for cotton exported to Pakistan and Bangladesh.

First, about 100000 bags from about 12 exporters cotton Issuance of permits. All cotton exports will be subject to an export tax of Rs. 2500/ton.

The General Administration of Foreign Trade (DGFT) has received about 1.3 million bales of cotton export license applications, which were registered before the ban on export.

In May this year, the government listed cotton, waste cotton and combed/combed cotton on the list of items subject to export restrictions, and each batch of export needs to apply for a license from the General Administration of Trade.

The purpose of this provision is to improve domestic Reduce the price of cotton supply. However, the new registration was suspended on April 19, and the exporter was informed that the textile commissioner would reassess the previously registered export contract.

Informed people said that if the government issued licenses for all outstanding export orders, India's exports in 2009-10 (October September) would increase from 3.5 million packages last year to more than 8 million packages.

When levying export taxes, suspending export registration, and enforcing compulsory export licenses system Previously, the Cotton Advisory Committee had estimated that 8 million bales of cotton would be exported in 2009-10.