| Date: |
16-02-2011 |
| Subject: |
Extend Cotton Export Limit, Says Federation |
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Yavatmal, Feb 15 (PTI) Maharashtra State Cotton Growers Cooperative Marketing Federation today demanded that the Centre review the status of surplus cotton bales and extend the deadline and quantity for export.
The Union Textile Ministry has imposed a restriction on export of cotton bales beyond 55 lakh bales till February 28. However, in view of expected bumper harvest this year, the Government should extend the deadline and quantity of export, Federation Chairman N P Hirani said here.
The country could export only 35 lakh bales so far and before the deadline, it is rather impossible to achieve the target of 55 lakh bales, he said.
At present the global market rate is Rs 74,000 per candy, while in India it ranges from Rs 55,000-60,000 per candy. The cotton has been purchased at a record price of Rs 6,500 per quintal and the current market trend indicates that it may go up to Rs 7,000 per quintal, Hirani said.
Source : news.in.msn.com
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