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Maran says no to ban or cap on cotton exports
10
Dec '09
Mr Dayanidhi Maran assured the textile mills and apparel manufacturers of availability of adequate quantity of raw cotton in the country and asked them not to panic unnecessarily. He added by saying that the government is not considering a ban or putting a cap on the quantity of raw cotton meant for exports.

Maran noted that cotton production is expected to be around 29 million bales, along with which there is a carry over stock of 4-4.5 million bales, which means a total availability of 33 million bales.

Divulging facts he said, in 2008-09, raw cotton exports had peaked at 8.5 million bales, against which in the current season, raw cotton registrations meant for exports has touched only 4.4 million bales, out of which only 700,000 bales have been exported.

Industry trade bodies have sought a ban on exports of cotton or putting quantitative restriction to enhance domestic availability and in the process help in curbing the prices of cotton, which has flared up by around 15-20 percent, since the beginning of the new cotton season in October, this year.

Fibre2fashion News Desk - India


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