Govt suspends registration of cotton export contracts

The Central Government has taken a decision to suspend registration of raw cotton shipments with immediate effect from April 19, 2010.

 

This decision was taken at an inter-ministerial meeting which met to discuss the steep increase in raw cotton prices in the last few months.

 

According to the statement released late on Monday, the registration of cotton export contracts, prior to shipment, stands suspended till further orders.

 

By the end of the first week of April, cotton exporters had registered contracts totaling to 7.9 million bales with the Textile Commissioners Office, Mumbai.

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