India'S Restrictions On Cotton Exports Cause Damage To Other Countries' Textile Industry
India government restrictions
NCC said that the price difference between the international cotton price and India cotton price has reached 13 cents since the restriction of cotton export in India in April 19th, while the average price difference between the two countries was about 5 cents.
India's move is good for the domestic textile industry, but the price is in other countries.
textile industry
Damaged.
At the end of September, India put the export quota of cotton in 2010 at 935 thousand tons. Although these cotton will be shipped in December 15th, India textile industry is still calling for the export of cotton to be postponed to January 1st next year.
U.S.A
Cotton field
The representative said that India's action intensified the already tense global supply and demand situation. The shortage of cotton is likely to lead to a further rise in the US unemployment rate in the two or three quarter of 2011.
Supplement:
Six months after India banned cotton exports, Bangladesh has begun importing India cotton.
On Monday, customs officials said 144 trucks of 8253 bales of cotton entered Bangladesh.
Dipak, manager of L G W of India cotton export company, said that in April 9th, India's central finance ministry issued a notice to levy 2500 rupee / ton value-added tax on cotton exports.
It is also ordered that cotton export permits must be issued from New Delhi instead of Calcutta.
Later in April 19th, the government of India banned direct export of cotton to Bangladesh.
The association of cotton exporters of India went to the high court to question the legality of the ban on cotton exports.
The court recently decided to support cotton exporters, so India resumed its export of cotton on Monday.
Bangladesh imports about 5 million 500 thousand bales of cotton a year.
Of these, 4 million came from Uzbekistan and another 1 million bales of cotton came from India.
By Monday evening, 144 trucks of cotton imported into Bangladesh through Benapole customs.
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