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Cotton Exports To Be Banned?

The Center on Monday banned with the immediate effect exports of cotton raw cotton, catching shippers, industry and growers by surprise.

CCI Logo Cotton Corp. of India

CCI - Cotton Corporation of India

In a notification issued in the morning, the Directorate General of Foreign Trade said that, the certificates has been issued on the basis of cotton export will not be allowed. The ban has been put on the export of 12 million bales (170 kg each) of cotton.

According to the textile mills, there is n problem at all in exporting cotton in large amount as the recession period is going on. Cotton production this season ending September is projected to be a record 35.5 million bales against 32.5 million bales last year.

The export ban comes at a time when cotton prices are ruling low. During the weekend, prices of Shankar 6, mainly in demand for exports, ruled at 34800-35000 a candy of 356 kg.

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