Cotton exports: India sets February 25 deadline

Shipment for the remaining 2.5 million bales to start from January 11.

NEW DEHLI: India’s cotton export deadline will expire on February 25 for the remaining unshipped quantity of the 5.5 million bales allowed for overseas sales in the 2010-11 season, Trade Secretary Rahul Khullar said on Thursday.

India, the world’s second largest cotton producer, has asked exporters to apply for cotton registration certificates between December 31 and January 6 for the unshipped quantities in the current season that began on October 1.

Khullar said the shipment for the remaining 2.5 million bales will start from January 11.

Earlier, a statement issued from the trade ministry had said the deadline for exports would expire on February 25. The trade secretary also said India will consider increasing cotton exports in the current season after mid-January, once the second batch of shipments begin.

Export demand for Indian cotton rose after bad weather hit crops in China and Pakistan, both leading consumers. India is likely to produce more than 32.5 million bales of cotton, topping last year’s 29.5 million bales, industry and government officials said.

Published in The Express Tribune, December 31^st, 2010.