|Government had banned the export of raw cotton on 5th March, 2012. This was revoked on 12th March, 2012. All Registration Certificates (RCs) were to be scrutinised before revalidation so that they could go ahead with their exports.
Government directed that priority be given to such cotton that had been pending for export through Land Custom Station on Indo-Bangladesh, Indo-Myanmar, Indo-Pak, Indo-Nepal and Indo-Bhutan borders.
The next priority was to be given to cotton that had been handed over to Customs. Such cases were revalidated on 23rd March, 2012 and again on 28th March, 2012.
As on 11.4.2012, RCs in respect of about 10 lakh bales were revalidated for exports, including the revalidation made on 23rd and 28th March, 2012.
DGFT has completed the scrutiny of the remaining applications. Government has decided that all these RCs be revalidated. Thus, RCs for approximately another 9 lakh bales of Cotton will be revalidated no later than 17th April, 2012.
Export of approximately 19 lakh bales of cotton would give a fresh impetus to cotton prices and would benefit both farmers and exporters.