Few events shocked the industry as much as India’s unexpected ban on cotton exports in 2010 and again in 2011, but the world’s second-largest cotton producer and exporter have taken steps to reassure the industry that there will be no ban on cotton exports in the 2012/13 season.
According to an official press release, Anand Sharma, Cabinet Minister of Textiles, India, sent a written statement earlier this week to Lok Sabha, the Lower House of the Indian Parliament, officially confirming that there will be no export ban for cotton.
The letter also states that according to Cotton Advisory Board, India will have an exportable surplus of 7 million bales (170 kg each). According to Sharma, export registrations through November 5 have reached 450,000 bales.
According to government projections, India is estimated to produce 33.4 million bales this season, which runs from (October 2012 through September 2013.