The Government has imposed export duty of Rs 2,500 a tonne on raw cotton and 3 per cent of the free-on-board value of cotton waste. The duty comes into effect from April 9.
In another development, the Centre has stipulated that cotton yarn exports be registered with the Textiles Commissioner's Office in Mumbai.
No yarn will be allowed for exports by the Customs Department until it is registered, a notification by the Directorate- General of Foreign Trade said.
"The duty has been imposed due to rising cotton prices in the domestic market. The Textile Ministry had recommended it as the spinning industry is facing shortage of raw material and the prices were ruling higher," a Finance Ministry source said.
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