Govt allows fresh cotton exports

The Group of Ministers (GoM), meeting chaired by the Finance Minister Pranab Mukherjee, which reviewed the cotton exports situation has settled to allow fresh exports of cotton. It has also declared that a ban on suspension of fresh registrations be lifted. The GoM looked at the estimates of the cotton advisory board and the 3rd estimates of the Ministry of Agriculture.

The government has withdrawn the suspension of registration of cotton exports. The Cotton Corporation of India has been assigned to build a buffer stock of 10 lakh bales to meet any emergency during the months of June, July and August 2012. The GoM would re-examine the position of the in 2-3 weeks time.

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