India General Administration Of Foreign Trade May Start Distributing Cotton Export Quota Today.

India General Administration of foreign trade (DGFT)

The director general may start distributing today.

Quota.

There are 8-9 exporters in India who oppose the new export quota allocation standard set by the General Administration of foreign trade, but they are striving for the export quota.

In deciding on the terms and means of export quotas, the General Administration of foreign trade said that enterprises wishing to export should have export performance in 2008-09 and 2009-10 years (October to September).

The allocation is carried out on a proportional basis, but the maximum number of exporters should not exceed 25000 packages (170 kilograms).

Applicants may strive to export more than last year, but no more than 25000 packages.

Prior to this, the government informed in June 9th that, in addition to the 5 million 500 thousand package export quota (the number of exports had been completed in January 15th), it was allowed to export 1 million packets.

The export quota is based on a forecast of 32 million 900 thousand new packages this year.

The Advisory Committee lowered its forecast to 31 million 200 thousand packs in February, but it is still the largest production in history.

The Ministry of textiles predicts that output will be reduced to about 31 million bales. The Ministry of agriculture predicts that the output will be 32 million 900 thousand packs.

According to the schedule, the increased export quota will start in June 20th and end in June 25th. The application will be accepted until July 5th. The quota allocation will start tomorrow.

The exporter will submit the documents from July 7th to July 15th, and the export will be completed in September 15th.

Cotton prices are currently at 39500-40000 rupees / candy.