BY DR. SESHADRI RAMKUMAR
Mr. Dhiren Sheth, President of Cotton Association of India recently clarified issues surrounding the export of India’s remaining cotton stock.
Media reports quote Mr. Anand Sharma, Union Minister for Commerce & Industry, Government of India as saying India is committed to exporting its remaining 2.5 million bales so as to fulfill the maximum approved limit of 5.5 million bales. However, recently, there have been confusing reports in the Indian media that export registration will begin the first week of January.
Mr. Sheth says that the Cotton Association of India is urging the government to allow the remaining exports as soon as possible. Due to the holiday season and the time needed to obtain reliable data on the exported quantity so far, January 1 is when action from the government can be expected, according to Sheth. He also said that the Ministry of Commerce & Industry will be leading the charge to set new modalities with regard to export of un-exported bales.
Mr. Anand Sharma, Union Minister of Commerce & Trade, has stated that cotton production for the 2010/11 will be above the production of 2009/10 season which was 29.5 million bales. The current estimate by India’s Cotton Advisory Board for the 2010/11 season is 32.5 million bales. This estimate is expected to be lowered during the board’s next meeting in mid January.
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