Within days of opening the registration, exporters have applied for about 30 per cent of the cotton permitted for exports in the backdrop of high global prices. Of the 55 lakh bales (170 kg each) allowed for exports in the current season, traders have already applied for 16.44 lakh bales, leaving the balance of 38.56 lakh bales open for registration, according to the official data. The export registration is being done, for the first time, online. This will ensure “transparency” and reduce transaction costs. It opened on October 1. Despite the projected record level of production this season, beginning October, prices in the domestic market are ruling 68 per cent higher than Rs 22,400 (per candy) in the same period last year. In the New York Futures market, cotton prices are ruling at 98.02 cent per pound compared to 61.
