By admin       2019-03-13

He added that availability of ample cotton at the warehouses can resolve the quality issues being faced by exporters, especially to Bangladesh.Importers from Bangladesh can now take delivery from the exchange platform through Authorised Stock Brokers. Last October, Sebi had allowed foreign entities with physical commodity exposure in India to hedge on the exchange platform as ‘Eligible Foreign Entities’.Brokers registered with Sebi as ‘Authorised Stock Brokers’ to route trade with Eligible Foreign Entities should have a minimum net- worth of ₹25 crore.Currently, IIFL Wealth Management, Phillip Capital (India) and Motilal Oswal Securities are registered as Authorised Stock Brokers. MCX is also in talks with more broking firms to attract foreign buyers’ interest.In the past, Bangladesh cotton importers from India have faced many challenges, including quality and quantity issues. In fact, Cotton Association of India is in the process of signing a memorandum of Understanding with Bangladesh’s cotton trade bodies to sort out issues.

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