Request to have regulation on cotton exports
PTI | 05:09 PM,Sep 06,2010Erode, MAR 10 (PTI): The Tamilnadu Power Loom Federation had filed a petition in Madras High Court against exporting of cotton and raw cotton by the Union Government, a senior Federation functionary said today Federation Chairman M.S. Mathivanan told reporters here that High Court had directed the Union Government to settle their grievances within eigh weeks. Mathivanan said raw cotton which was sold during last year in March at Rs twenty thousand per candy (352 Kilogram),was now selling at Rs 63000 per candy. "This is due to the export of raw cotton and waste cotton to othercountries by the Union Government." He said till November 2010, there was a ban on export of cotton to other countries, but "giving wrong information the Cotton advisory board recommended the Union Government to export the cotton." The Central Government also lifted the ban on cotton export. Within six months crores of rupees worth cotton has been exported,he said. Consequent to this, the price in local market has risen several fold. The spiralling hike in cotton prices has affected weavers and also consumers to great extent, he said.. He appealed to the Textile and Commerce Ministry to ban the cotton export immediately and take steps for reducing the price in local market.
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