Govt to review cotton exports in 2 weeks

Government has flip-flopped on the issue of banning cotton exports. After saying it was lifting a ban on overseas sales , Khullar said no fresh exports would be allowed

hidden March 12, 2012 12:32:06 IST
Govt to review cotton exports in 2 weeks

New Delhi: A panel of ministers will likely review a halt on fresh cotton exports from India in two weeks, Trade Secretary Rahul Khullar told reporters on Monday.

Govt to review cotton exports in 2 weeks

AFP

The government has flip-flopped on the issue of banning cotton exports. After saying it was lifting a ban on overseas sales of the fibre on the weekend, Khullar said on Monday no fresh exports would be allowed and only the quantity permitted to be sold before the ban will be allowed to be shipped.

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 agriculture minister, Sharad Pawar, and China, the biggest buyer of cotton from the world's second-largest producer.

Reuters

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