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India can export 8 mn cotton bales – Agri Minister
01
Oct '10
The Indian government has set a limit of 5.5 million bales on cotton exports for the period 2010-11. But Sharad Pawar, the Agriculture Minister of India revealed that there is a possibility of increasing this limit to 7.5-8.0 million bales.

According to the Minister, cotton production has been extraordinarily good this year and therefore cotton exports can be increased up to 7.5-8.0 million bales. However, the other ministers are not supporting this.

A meeting of senior ministers was convened, where the cap of 5.5 million bales on cotton exports was approved for the coming marketing season, starting from October, 2010 to September, 2011.

He added that the situation will be assessed further towards the end of December, as the government is required to adopt an impartial stand so that it can save the interests of both the cotton producers as well as the textile industry.

He further added that, at present, the cotton prices are good in the global market. So there is a huge prospect for the cotton growers to get higher prices for their produce in the international market.

Fibre2fashion News Desk - India


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