
NEWS
Indian government meeting will decide to lift cotton export ban
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- Time of issue:2011-07-20 12:30
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Indian government meeting will decide to lift cotton export ban
[Webbing] Ahmad Patel, political secretary of Sonia Gandhi, senior Indian leader and chairman of Congress, said on June 7 that the Indian Ministerial Group will meet on June 7 and the meeting will decide to lift the ban on cotton exports This is a request made by Gujarat farmers and ginners.
Patel said: "On the evening of the 6th, I discussed this issue with Union Finance Minister Mukherjee. Gujarat farmers and ginners said that the export volume was limited to 5.5 million bales, which caused them a lot of difficulties."
Patel said he supported the farmers’ request to, as a special case, agree to Gujarat to export 1.5 million bales of cotton, because the state’s cotton production accounts for one-third of India’s national output. This year Gujarat produced 10.455 million bales of cotton (170 kg/bale).
In recent months, the price of cotton in the domestic market has fallen sharply, and farmers have been hit hard. They do not have any mechanical devices to store cotton and can only be forced to sell cotton at low prices.
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