India not to allow fresh cotton exports-govt
Posted by Labels: Bans and Sanctions, Cotton, Export, India
India will not allow any fresh exports of cotton and only the quantity permitted before the government imposed a ban on overseas sales will be allowed to be shipped, the trade secretary said on Monday.
“No new registration certificates will be issued,” Rahul Khullar told reporters, a day after the government announced the lifting of a controversial ban on cotton exports at a time when the global market is over-supplied.
Contracts for about 2.5 million bales are already registered and awaiting shipment.
The ban, announced unexpectedly on March 5, after a record 9.5 million bales had been shipped, ran into criticism from the influential farm minister, Sharad Pawar, and China, the biggest buyer of cotton from the world’s second-largest producer.
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