Govt notifies export of extra 10 lakh bales of cotton

The Government today notified the decision to allow export of additional 10 lakh bales of cotton during the current season in the wake of a sharp fall in prices in the domestic market. “..During the cotton season, 2010-11 (up to September 30) the export of cotton will be subject to a cap of 65 lakh bales,” the Directorate-General of Foreign Trade said. The decision was taken by an informal group of ministers, chaired by the Finance Minister, Mr Pranab Mukherjee, here on Wednesday.