India began accepting new cotton export registration on January 1, 2011

The Indian government will begin accepting new cotton export registrations on January 1, 2011, and the registration volume will be 2.5 million bales that have not yet been exported out of the 5.5 million bales that the government has approved.

The Ministry of Commerce’s Ministry of Foreign Trade will accept new applications for export registration within seven days as of January 6.

The General Administration of Foreign Trade issued a notice to customs authorities and industry officials that the General Administration of the People's Republic of China has decided to accept applications for registration of export of cotton from December 31, 2010 to January 6, 2011.

The number of exports allowed this year is 5.5 million bales (170 kg), of which 3 million bales have already been exported.

The General Administration of Foreign Trade stated that the exact quantity still needs to be confirmed. According to sources, the quantity is about 2.5 million bales.

A ministerial group made a decision to export 5.5 million bales of cotton in the 2010-11 cotton year (October-September), but exporters failed to export the full amount within the specified time, because the off-season precipitation delayed the arrival of cotton in the cash market. time.

Ending exports on December 15. The government later decided to give exporters more time to complete the remaining cotton exports.

The State Administration of Foreign Trade made it clear that the registration certificate can only be distributed after the application has been reviewed.

The maximum number of registration certificates issued for each application is 100,000. The minimum is 500 bags.

The cotton market price has risen by 12% to 42,000 rupees/candy (365 kilograms).

India's output in 2010-11 may exceed 32.5 million bales (170 kg), compared with 29.5 million bales in the previous year.