India bans cotton export to raise supply in domestic market
08/03/2012 169
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NEW DELHI, March 5 (Xinhua) -- India Monday announced it will ban the export of cotton in an effort to raise its supply in domestic market.
"Export of cotton has been prohibited till further orders. Exports against registration certificates already issued will not be allowed either," the Directorate General of Foreign Trade, the nodal export body, said.
India, the world's second largest producer of cotton, exports mainly to China which is the world's largest user of the natural fibre.
India has already exported about 8.5 million bales of the fibre in the current marketing year (October to September), much higher than government estimates.
Source: Xinhua
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