Govt allows export of extra 10 lakh tonnes of cotton

Exports of 55 lakh bales (170 kg each) have already been allowed for 2010-11 season (October-September), the bulk of which has already been shipped out.

The decision to allow exports of extra 10 lakh bales was taken by an informal group of minister which met here under the chairmanship of Finance Minister Pranab Mukherjee.
"We had calculated earlier an exportable surplus of 55 lakh bales which was permitted. The GoM has decided to allow another 10 lakh bales. So, the total exports will be 65 lakh bales," Commerce and Industry Minister Anand Sharma told reporters after the meeting. The country has already exported 52.5 lakh bales and the remaining quantity would be allowed to export, he added.

Agriculture Minister Sharad Pawar had proposed exports of additional 15 lakh tonnes of cotton during this season to help farmers earn more.

Sharma said the GoM took stock of the ground realities, the need of the industry and also the requirement of cotton for domestic consumption till the next crop comes in October.

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