on Saturday, 1ndia’s federal commerce minister Dr Rahul khullar said that only the remaining cotton is allowed to be exported, so the domestic textile industry will be able to make full use of domestic cotton
after a public meeting between the 1ndian export organization (fieo) and the 1ndian Chamber of Commerce and industry (F1CC1), Dr. khullar said at a press conference that the Ministry of Commerce and industry must balance the interests of farmers and industry
the spinning (Textile) industry has been demanding a ban on the export of cotton in order to leave enough cotton supply for the domestic industry. On the other hand, growers and traders want to allow cotton exports, because the international market price is very attractive, and the recent floods in Pakistan have greatly reduced crop production, and China’s cotton production is far lower than expected
the spot price of cotton in 1ndia has soared from RS 31000 / candy a month ago to RS 34300 / candy (356kg)< Dr. khullar said that the Ministry of Commerce, the Ministry of agriculture and the Ministry of textile will hold a meeting. After the meeting, the government will assess the cotton production and the demand of the domestic textile industry. Only surplus cotton is allowed to be exported according to the textile industry, the latest data from the Cotton Advisory Committee shows that the available inventory in 1ndia is 4 million bales, including 3.2 million bales in various textile mills and 800000 bales in 1ndian cotton companies the current available inventory is not enough to last for several months. On the other hand, the earliest arrival time of new cotton was early November. The textile industry said the government should at least make it clear that cotton exports will not be allowed until December as the government also allows the export of waste cotton, the price is also rising. The price has risen to 58 rupees per kilogram from 43 rupees two weeks ago