India Cotton Merchants Have Submitted 3 Million 240 Thousand Bales Of Cotton Export Applications.

After the mandatory registration of the India government began in October 1st, cotton

India once restricted cotton exports in April because textile mills complained about the shortage of cotton and the government restricted exports to expand domestic cotton supply.

Real time data show that in all applications received, the government has registered the number of permitted exports to be 750013 bales.

Each pack weighs 170 kilograms.

Bhadresh trading company got more than 181000 packages of export license, Jaydeep cotton fiber private limited received 66000 packs of export license.

Other companies that have obtained export licenses include Gil & Co., Gill & Co., LGW, and Oran agricultural India Ltd., Co..

As prices rise, traders in India are also trying to renegotiate contracts signed with foreign buyers in August.

India is the second largest exporter of cotton in the world. India said in September that it would allow export of 5 million 500 thousand bales of cotton from customs duties in November, and the excess would be taxed.

A ministerial group may meet in October 15th to examine the supply of cotton in the country and decide on the duty to export cotton outside the tariff free export volume.

Last month, Ladd Pavel of the Ministry of agriculture of Changsha said that India could comfortably export 8 million bales of cotton in 2011-12 years, as output recorded a record, and it was estimated that 2009-10 cotton exports were 8 million 300 thousand bales.

In 2010-11, India is expected to produce 32 million 500 thousand bales of cotton, an increase of 10% over last year. The reason is that the planting area is expanding and the monsoon rainfall is good.