Continuing ban on cotton export worries state traders

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INDORE: The government’s decision not to lift the ban on cotton export, which was effected from March 3, has sent a shock wave among the cotton traders of the country. The announcement to this effect was made by Union commerce and textile minister Anand Sharma at the concluding session of the empowered group of ministers’ meeting in New Delhi on Monday.

Talking to ToI, Dhanraj Lunia, one of the leading commission agents of cotton in the state based in Indore, said that only the textile mills were purchasing cotton that too for their own consumption at present.

“We are also not purchasing any fresh stock of cotton from the cotton growers in the state from March 3 itself since when the ban on cotton exports became effective,” he said. However, he added that nearly 13 lakh bales have already been exported from the state during the current season, which was almost equal to the amount of cotton which was exported during the last cotton season, which begins in October and lasts up to September.

Source: http://timesofindia.indiatimes.com/city/indore/Continuing-ban-on-cotton-export-worries-state-traders/articleshow/12618364.cms

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