According to industry experts, although the Indian government decided to partially cancel the ban on cotton exports announced earlier this month, the price of Indian cotton could not rise significantly.
According to the latest decision, the central government has allowed the use of the Open General Licence (OGL) for exporting cotton, but it will stop issuing new registration certificates (RCS) before re-verification of actual exports.
On March 14, 2012, benchmark Shangkar 6 cotton varieties traded at 33,500-34,000 rupees/candy (356 kg), slightly higher than the transaction price of 33,000 after the declaration of export ban on March 5, 2012. Rupee/candy. Before the ban was announced, the price was around Rs 35,000/candy.
According to the latest decision, the central government has allowed the use of the Open General Licence (OGL) for exporting cotton, but it will stop issuing new registration certificates (RCS) before re-verification of actual exports.
On March 14, 2012, benchmark Shangkar 6 cotton varieties traded at 33,500-34,000 rupees/candy (356 kg), slightly higher than the transaction price of 33,000 after the declaration of export ban on March 5, 2012. Rupee/candy. Before the ban was announced, the price was around Rs 35,000/candy.