India will give exporters more time to ship cotton

According to government sources, India will give exporters more time to ship the 5.5 million bales that had previously failed to be fully exported before the December 15 deadline.

Integrated media on December 20 news, two government sources said that the world’s second-largest cotton producer - India will give exporters more time to ship 550 before it could not be fully exported before the December 15 deadline Million cotton.

A textile ministry official who declined to be named said on Sunday: "We have decided to give exporters extra time, considering the supply of domestic cotton."

India is also the world’s second largest cotton exporter. The country has allowed exports of 5.5 million bales of cotton from November 1 to December 15, but exporters have not been able to ship the entire quantity, as non-seasonal rains have delayed the arrival of the spot market.

Overseas demand for Indian cotton has increased as bad weather in China and Pakistan, the two major consumer countries, has hurt production.

Industry and government officials have stated that India may produce more than 32.5 million bales in 2010/11, up from 29.5 million bales last year. Up to now, the export volume is about half of the total allowable exports, as non-seasonal rainfall has damaged supply and quality.

The textile ministry source said: "We do not know how much of the total of 5.5 million bales has been exported. After collecting the exporter's data, we will determine the specific time that we need to give them."