ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Global Quota Over

confidence. Thin and anaemic, as it is, the market responds quickly to even small buying and selling orders. WITH the release of the balance quota of 75,000 bales of cotton to be imported from countries other than the UAR and Sudan, the entire global cotton quota for the current season has been issued. Together with 1.80 lakh bales of Egyptian cotton and 1.35 lakh bales of Sudan, the total quantity of global cotton comes to around 3.90 lakh bales. The shipment period for the entire quantity is May 31. Inquiries with the import trade indicate that purchases to the extent of 85/90 per cent of the Egyptian cotton quota and 75/80 per cent of the Sudan quota have already been effected. All that now remains of the import programme for the current season is the US cotton quota under PL 480. New Delhi has requested Washington for an allocation of 2 to 2.50 lakh bales (500 lbs each) but indications are that the first instalment is unlikely to exceed one lakh bales and that it might well turn out to be the last instalment as well. Negotiations are in progress and the announcement about US cotton allocation is expected by the end of this month. It might be mentioned here that about 1.50 lakh bales of US cotton purchased against the previous season's allocation are being received this season.

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