No cotton ban from India
09/12/2009
India's textiles minister, Dayanidhi Maran, has said his government will not sanction any restriction on cotton exports.
He told local media: “I think the industry is unnecessarily panicking. There is enough production in our country. The government is not considering any kind of ban on exports of cotton. There is no need to panic, we are not going to intervene. It is not just necessary.”
Mr Maran said cotton production from the most recent harvest is expected to be around 29 million bales to add to carry-over stock of 4 or 4.5 million bales, taking the total availability to around 33 million (one bale is equal to 170 kilos). He explained that the most India had ever exported was 8.5 million bales in fiscal year 2008-2009, but that, this fiancial year so far, India had only exported 700,000 bales of cotton.
The financial year runs from April to March in India.
Share this story:
