India signs ‘G2G MoU’ with Bangladesh to export 10L cotton bales annually, CCI to handle
15th July 2021,Mumbai:
India and Bangladesh have signed a Memorandum of Understanding (MoU) to export 10 lakh bales of cotton annually. As per a Krishi Jagran report, the MoU will facilitate a Government to Government transaction. It will be handled by Cotton Corporation of India (CCI).
Watch:https://www.youtube.com/watch?v=g1Ql8aBvpRQ
Bangladesh imports 20 to 30 lakh cotton bales from India annually. For the first time, CCI is trying to enter the export market directly. The contract is in final stages with both the governments actively negotiating the deals. Bangladesh is skeptical of the government’s export guarantee as it believes the Indian government takes a lot of time to supply goods whereas private exporters are quite prompt.
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CCI procured around 100 bales of cotton in the cotton season 2020-21 at MSP of Rs 5,515 per quintal for medium staple cotton and Rs 5,825 per quintal for long staple cotton.
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