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The Government will permit export of cotton yarn till the end of March to ensure that the overall quota of 720 million kg fixed for 2010-11 is achieved.
The exact quantum of cotton yarn that will be allowed to be exported was not immediately clear, as data for exports achieved from April 1, last year are being collected.
“Allocation (for export) will be made for the balance quantity keeping in view of the decision of the Group of Ministers to limit exports of cotton yarn to 720 million kg during 2010-11,” a notification issued by the Directorate General of Foreign Trade (DGFT) states.
Exporters will have to apply for licences by February 7.
“Allocation will be done on a pro rata basis. The maximum that an application can apply is 100,000 kg per Importer Exporters Code (IEC) or what has been exported by such IEC holders during 2009-10, which ever is more,” the notification states.
In effect this means that if an applicant has exported 1,20,000 kg in 2009-10, then he can only apply for a maximum amount of 1,20,000 kg, while an applicant who has not exported at all can apply up to 100,000 kg.
The process of issuance of authorisation (for the exports) will be completed by February 18, the notification adds.
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