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India clears raw cotton for export

India’s Commerce Ministry was forced to revoke a March 5 raw cotton export ban after protests from cotton-producing states. While the government lifted the ban, it decided to scrutinize contracts covering cotton that had yet to be shipped. On Wednesday, April 18, it gave the go-ahead to export 1.9 million bales under those existing contracts.

India has cleared the way for exports of raw cotton under existing contracts, according to an article in the Wall Street Journal.

India banned cotton exports on March 5 to insure that domestic textile mills had access to a cheap local supply of raw cotton. India’s Commerce Ministry was forced to revoke the ban within a week, after loud protests from cotton-producing states.

While the government lifted the ban, it decided to scrutinize contracts covering cotton that had yet to be shipped. On Wednesday, April 18, it gave the go-ahead to export 1.9 million bales under those existing contracts, the article noted.

India could export as much as 1.5 million bales of cotton, or about a third of its production.

 

  

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