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India
to export 2.5 million bales of cotton by Feb 25
Thursday December 30, 2010 07:31:46 PM ,
IANS
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New Delhi: India will
export 2.5 million bales of cotton by Feb 25, 2011 as prices have
almost doubled in the international market within a year, Commerce
Secretary Rahul Khullar said Thursday.
"Out of the 55 lakh (5.5 million) bales of exportable surplus, 30
lakh (3 million) bales have already gone. For the remaining 25
lakh (2.5 million) bales, the export will start from Jan 11,"
Khullar told reporters here.
An Indian bale weighs 375 pounds or 170 kg.
The Directorate General of Foreign Trade has issued a circular and
will accept online application for the second batch of cotton
export Dec 31-Jan 6.
He said the last date of export would be Feb 25, 2011.
"If any particular trader fails to
export the stipulated amount within the time frame, he or she will
be penalised," Khullar said.
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