China association blasts Indian cotton export ban

[Shardul.....the lion]

BEIJING (Reuters) - China's cotton industry association has criticised India's decision to ban cotton exports, saying it was "irresponsible" and would disrupt the global market.

India, the world's second largest cotton producer, said on Monday it had stopped exports with immediate effect to ensure supplies for domestic mills, fuelling speculation that main consumer China would have to turn to other sources.

The China Cotton Association urged a review of the decision.

"As a member of the international trading family, we hope the Indian government will rectify this market-disrupting and mistaken policy in a timely fashion and comply with global trade rules," the statement said.

It said a previous Indian attempt in 2010 to ban cotton exports had resulted in "heavy losses" for Chinese textile producers and had also hurt local Indian producers.

India has already exported about 9.5 million bales in the current cotton year beginning on October 1, higher than the projected export surplus quota of 8.4 million bales set in January, due to strong demand from China.

India's cotton farmers have expressed misgivings about the ban, which has sent domestic prices further into freefall. Ministers in New Delhi are expected to meet to discuss the issue on Friday.

(Reporting by David Stanway; Editing by Sanjeev Miglani)

China association blasts Indian cotton export ban - Reuters -

 

[Ajaxpaul]

I hope the export reopen ASAP after addressing the concern of our Mill owners and farmers. Disruption in international market is not good for anyone, including India.

 

[Paan Singh]

I hope the export reopen ASAP after addressing the concern of our Mill owners and farmers. Disruption in international market is not good for anyone, including India.

you re wrong..india have decide to put ban on raw cotton ban.now we have decided to fulfull our own demands and will transport finished goods to other countries rather than raw cotton.its more money and our industries will be saved.

 

[Chinese-Dragon]

India, the world's second largest cotton producer, said on Monday it had stopped exports with immediate effect to ensure supplies for domestic mills, fuelling speculation that main consumer China would have to turn to other sources.

Interesting. I guess we'll have to turn to other sources then.

If we are paying our money to Brazil rather than India, I don't see the downside.

 

[Shardul.....the lion]

Bangladesh criticises India's ban on cotton export

Bangladesh on Thursday termed India's ban on cotton export as "unfortunate", saying the move is against the norms of international trade.

The Commerce Ministry said the repeated ban on cotton by India is threatening Bangladesh's textiles industry.

"India imposed ban on export of main raw material leaving aside trade rules and regulations. We think it (ban) is against the norms of international trade," Commerce Secretary M. Ghulam Hossain told reporters.

Hossain said the ministry condemned India's "unexpected move" and wrote to the Indian government for withdrawal.

"If not, Indian government has been urged to take steps to release all agreements related to cotton to ensure unloading of inputs from ports smoothly," he said.

India on Monday banned cotton exports apprehending shortfall in domestic market and hoarding in warehouses abroad.

Referring to the world market cotton price, the top Bangladeshi bureaucrat of the Commerce Ministry said production of the textile input was good and price was low too.

Hossain said he, however, expected India's ban on cotton export would not hurt local textiles industry as the ministry was keeping vigil against artificial enhancement of the cotton price.

"We are (also) looking for alternative sources of import of cotton such as Uzbekistan, Australia and the United States," he said adding that a high-powered delegation led by Commerce Minister Faruq Khan would visit next month to Uzbekistan to explore possibility of importing cotton to meet Bangladesh's demand.

Apart from this, he said, the ministry would contact US Cotton Council to this end.

The issue of India's ban on cotton import would be discussed in the upcoming Joint Trade Commission (JTC) meeting to be held on March 28-29 in New Delhi.

Bangladesh criticises India's ban on cotton export - Business Today

 

[Ammyy]

Bangladesh criticises India's ban on cotton export

Bangladesh on Thursday termed India's ban on cotton export as "unfortunate", saying the move is against the norms of international trade.

The Commerce Ministry said the repeated ban on cotton by India is threatening Bangladesh's textiles industry.

"India imposed ban on export of main raw material leaving aside trade rules and regulations. We think it (ban) is against the norms of international trade," Commerce Secretary M. Ghulam Hossain told reporters.

Hossain said the ministry condemned India's "unexpected move" and wrote to the Indian government for withdrawal.

"If not, Indian government has been urged to take steps to release all agreements related to cotton to ensure unloading of inputs from ports smoothly," he said.

India on Monday banned cotton exports apprehending shortfall in domestic market and hoarding in warehouses abroad.

Referring to the world market cotton price, the top Bangladeshi bureaucrat of the Commerce Ministry said production of the textile input was good and price was low too.

Hossain said he, however, expected India's ban on cotton export would not hurt local textiles industry as the ministry was keeping vigil against artificial enhancement of the cotton price.

"We are (also) looking for alternative sources of import of cotton such as Uzbekistan, Australia and the United States," he said adding that a high-powered delegation led by Commerce Minister Faruq Khan would visit next month to Uzbekistan to explore possibility of importing cotton to meet Bangladesh's demand.

Apart from this, he said, the ministry would contact US Cotton Council to this end.

The issue of India's ban on cotton import would be discussed in the upcoming Joint Trade Commission (JTC) meeting to be held on March 28-29 in New Delhi.

Bangladesh criticises India's ban on cotton export - Business Today

I thought Bangladeshi will be more happy with this ban
Atleast they dnt have to buy Indian cotton

 

[Shardul.....the lion]

NY cotton ends down, India decision on ban awaited

* Indian ministers to meet on Friday
* USDA supply/demand report due Friday

NEW YORK, March 8 (Reuters) - Cotton futures finished
lower Thursday for the third straight session as traders and
players waited for a meeting of government ministers in India to
resolve the country's ban on cotton exports which has roiled
fiber contracts, analysts said.
The benchmark May contract on ICE Futures U.S.
declined 0.56 cent to finish at 89.56 cents per lb, moving from
89.30 to 90.93 cents.
Cotton prices have more than halved since hitting $2.27 a lb
on March 7, 2011, as demand shrank and worldwide sowings rose.
India, the world's No. 2 producer and the biggest exporter
after the United States, imposed a ban on cotton exports last
Monday. The decision was challenged by India's farm minister and
the ministers meeting will decide on the issue.
"We're waiting on word from India," said Mike Stevens, an
independent cotton analyst in Louisiana.
Government sources in India said New Delhi may allow some
shipments to go ahead as up to 2.5 million bales of cotton have
been registered for export.
Traders said there was widespread uncertainty over what
government ministers in India decide when they meet on Friday.
Stevens added the market will take a look at the monthly
supply/demand report of the U.S. Agriculture Department in case
there are any major changes in its crop estimates.
Thursday's volume of almost 17,000 lots was almost 30
percent below the 30-day norm, Thomson Reuters preliminary data
showed.

NY cotton ends down, India decision on ban awaited | Reuters

---------- Post added at 09:59 AM ---------- Previous post was at 09:58 AM ----------

Sharad Pawar is against the ban as its hurting the producers or farmers.

 

[Paan Singh]

sharad pawar is corrupt who have taken bribes from foreigners and why he will be happy??
i wish india could stay on this decision.its the benefit of india

 

[Shardul.....the lion]

India’s decision came as China, the world’s biggest consumer, in the past year has aggressively bought bales for a government reserve as a way to support domestic farm prices and buffer against price volatility.

By late January, China had bought as many as 5m bales of foreign cotton for the reserve, which along with its domestic purchases made up 15 per cent of global cotton consumption in the current crop year, the US Department of Agriculture estimated.

India noted what it described as “a tendency of hoarding in bonded warehouses abroad” as export registrations jumped to 12m bales, well above its estimated exportable surplus of 8.4m bales.

Interesting world we live in…

 

[IndoUS]

We must first fill our own need, why give out to others when our own industry needs the cotton.

 

[Infinity]

We must first fill our own need, why give out to others when our own industry needs the cotton.

Are our mills ready to give better price to Farmers.................If they Can't then a wrong decision............Why can't government protect Farmers instead of Industry...............