Cotton auctions suspended in Saurashtra yards bl-premium-article-image

Our Bureaus Updated - March 12, 2018 at 05:21 PM.

cotton

All Agricultural Produce Marketing Committee (APMC) yards in Gujarat's Saurashtra region on Friday suspended auctions.

The suspension was to sympathise with the ginning units that have gone on strike until the ban on cotton, imposed by the Centre on March 5, is revoked.

More trouble was brewing for the Centre with the China Cotton Association lodging a complaint with the Commerce Ministry to revoke the ban. Chinese textile mills have bought around 80 lakh bales (170 kg each) and at least half of the contracted quantity is reported to face trouble.

There was further embarrassment in store with Bangladesh too joining the band of critics against the export ban.

Meanwhile, the empowered group of ministers' meeting to review the ban was “inconclusive”.

The ministers will meet soon. According to sources, the ministers could meet again on Saturday. Late in the evening, the Press Trust of India quoted the Commerce Secretary, Dr Rahul Khullar, as saying that his Ministry was contemplating to revoke the ban. Earlier in the day, the Directorate-General of Foreign Trade clarified that shipments that had been cleared by the Customs Department would be allowed to be exported.

(With inputs from New Delhi and Rajkot)

Published on March 9, 2012 16:56