India May Reopen Cotton Exports 20 Days Later

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Market sentiment is optimistic.

The government announced on Thursday that the registration of cotton export contracts would no longer be responsible for the textiles Commissioner of Mumbai, but would be pferred to the General Administration of foreign trade.

The announcement led to the India benchmark variety Carle 6 on Friday.

After the government set up the export of cotton and cotton yarn, cotton prices fell for more than a month.

Bhadresh Bhai, owner of Bhadresh Bhadresh, the largest exporter of cotton in India, said the announcement only changed the cotton export contract registration office, which is no different for exporters.

However, he expects the government to reopen cotton exports in 2-3 weeks, because the government allows 5 million 500 thousand cotton exports, while India exports only 3 million bales of cotton.

Bhadresh said that the government may extend the final shipment time of the registered export quota for 45 days. He said the government should punish the cotton producers who did not perform well, rather than reward them.

The government will open the remaining export quota, and anyone, including exporters with poor performance, can register again.

The export policy is mainly to ensure the interests of farmers and let farmers sell international prices.

If the government extends the export time of poor cotton producers, the farmers will not be able to sell a good price.