| Date: |
22-12-2010 |
| Subject: |
Govt to allow exports of 2.5m cotton bales |
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India, the world's second-biggest producer and exporter of cotton, will allow exports of 2.5 million bales in 2010-11, Trade Minister Anand Sharma said on Tuesday.
"What had been determined as exportable surplus will not be held back," Sharma told reporters.
India had earlier allowed exports of 5.5 million bales from Nov. 1 to Dec. 15, but exporters managed ship only about 3 million bales.
India is likely to produce more than 32.5 million bales of cotton in 2010/11, topping last year's 29.5 million bales, industry and government officials have said.
(1 bale = 170 kg)
Source : moneycontrol.com
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