Published on 2010-12-13 14:20:51
New Delhi - India will review cotton despatches already made before deciding whether to extend a Dec. 15 deadline for the export of 5.5 million bales, Textiles Secretary Rita Menon said Monday.
"First, we are going to see how much has been exported and then what is the gap between export registration and actual exports," Menon told reporters.
India permitted the export of 5.5 million bales of 170 kilograms each in the current marketing year that started Oct. 1, and traders booked the entire quantity within days of the government opening compulsory registrations for shipments.
India, the world's second-largest cotton exporter, is expecting a cotton crop of 32.5 million bales in 2010-11 due to higher plantings. Indian traders are hoping to cash in on soaring international prices due to a shortage in key producers such as China and Pakistan.
"First, we are going to see how much has been exported and then what is the gap between export registration and actual exports," Menon told reporters.
India permitted the export of 5.5 million bales of 170 kilograms each in the current marketing year that started Oct. 1, and traders booked the entire quantity within days of the government opening compulsory registrations for shipments.
India, the world's second-largest cotton exporter, is expecting a cotton crop of 32.5 million bales in 2010-11 due to higher plantings. Indian traders are hoping to cash in on soaring international prices due to a shortage in key producers such as China and Pakistan.
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