Cap on Cotton Exports Raised to 65 Lakh Bales from 55 Lakh Bales for Current Season

[Ref: DGFT Notification 57(RE)/09 June 2011]

Subject: Quantity restriction of 65 lakh bales on export of cotton during Cotton Season, 2010-11.

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby amends the “Nature of Restriction” as appearing in para 2 of Notification No. 32(RE-2010)/2009-14 dated 14.03.2011 read with Notification No. 12(RE-2010)/2009-14 dated 16.12.2010, as under:.

“Nature of Restriction”

“The contracts for export of cotton shall be registered with the Directorate General of Foreign Trade prior to shipment. During the Cotton Season, 2010-11(upto 30.09.2011) the export of cotton will be subject to a cap of 65 lakh bales or as notified by DGFT from time to time.  Clearance of cotton consignments by Customs should be after verifying that the contracts have been registered.”

2. The effect of this notification:-

Cap on export of cotton during the current Cotton Season is increased to 65 lakh bales from 55 lakh bales as was notified earlier. Other conditions remain unchanged.