India 2 Million 500 Thousand Bales Of Cotton Not Yet Exported

　 The government of India has permitted to export 5 million 500 thousand bales of cotton, but 2 million 500 thousand of them (1 kg =170 kg) have not yet exported the registered cotton, and this part of cotton may start registering in the first week of January.

According to insiders, 2 million 500 thousand exporters of cotton have been registered for export, but not yet shipped out for various reasons in December 15th. On Wednesday, the Ministry of textiles decided not to extend the deadline and then cancelled the registration.

Earlier this week, the commerce department hinted at the need to foreign trade The General Administration re registered to replace the registration of the office of the Commissioner for textiles. The General Administration of foreign trade also revised the guidelines for export registration and the time of export. The industry believes that the new regulation is beneficial to the industry.

The industry put forward three suggestions to promote cotton exports: (1) there must be an effective letter of credit (LC) issued by a bank to carry out export registration. At present, cash can be exported. Insiders believe that this will provide space for trade operations. )

(two) the time limit for shipment should be shortened from 45 days to 30 days to ensure that only real traders will enter the purchase agreement and implement the agreement. (45 days, dealers are allowed to negotiate with buyers who have wrong intentions. )

(three) to ensure that traders can not store large quantities of their affiliate offices in their neighbouring countries. cotton For example, Bangladesh, or when prices rise or when buyers agree to pay high prices, they will transport cotton to other destinations. This process will delay the actual delivery time in India for several months. )

Cotton traders believe that the total output of cotton in India should be around 35 million bags, but industry experts say the output should be 33 million 500 thousand packs, because the cotton in Andhra Pradesh has suffered huge losses. About 30% of the cotton was lost in the off-season rain season, and its total output was reported to be 5 million 400 thousand bales.

However, India Cotton Association It is predicted that the total output will be maintained at 34 million 700 thousand bales this year, and the output will be 30 million 750 thousand bags a year. The Cotton Advisory Committee supervised by the Ministry of textiles has predicted that the total output will be 32 million 500 thousand bales.