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Cotton export decision may arrive soon
23
Dec '10
A reliable high level source from the Government of India revealed to Seshadri Ramkumar on December 22nd that the group of ministers (GoM) of the government of India involving the textiles, agriculture and commerce ministries met on December 21st in New Delhi to discuss and evaluate the raw cotton and cotton yarn exports scenario.

Once the data that can been verified on the raw cotton exports is obtained and forwarded to the GoM, a decision to allow the remaining un-exported quantity will be made. This decision is expected within few days, hopefully before the New Year, if the data is compiled, verified and approved by concerned ministries.

The exporters have until January 6th to provide custom papers as verifiable information for the amount exported. However, if the GoM gets the data sooner, a decision on the export will be made. The government is committed to fulfill the earlier limit of 5.5 million bales for the 2010/11 season.

As of December 22nd, export data for 2.6 million bales (170 kg each), have been submitted to the government via online system. Of which, verifiable information is available for 1.71 million bales (17.1 lakh bales). However, the Office of the Director General of Inspection for Customs and Statistics, Ministry of Commerce and Industry has data directly from Indian Customs for the shipment of 3.078 million bales (30.78 lakh bales).

It appears that verifiable export data will be available for the Ministry of Textiles within next few days. The official source from the government advised that the government is not interested in waiting long to get the data and to allow the remaining exports. Mr. Nayan Mirani of Kimji Visram and Sons, Mumbai while speaking to this writer on December 21st expressed his view that India should fulfill its commitment of 5.5 million bales as approved earlier.

From all sources contacted, it appears that India will stick to its already committed export level of 5.5 million bales.

Seshadri Ramkumar, Texas Tech University


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