NEW DELHI, March 21 (Reuters) - India's cabinet must take
the decision on how much cotton to sell in the domestic market
from state reserves and sales should start next month,
government sources said on Thursday.
The issue needs cabinet approval because it has financial
implications to the exchequer, said one of the sources, who did
not wish to be identified.
On Wednesday, Trade Minister Anand Sharma said the state-run
Cotton Corporation Of India (CCI) would offload stocks in the
open market but did not elaborate on details of how or on prices
Sources also said the cabinet would take a decision soon so
that the state-run cotton procurement agency could start sales
from next month.
India has about 2.5 million bales (425,000 tonnes) of stocks
and has faced calls from mills to sell in order to cool soaring
prices, which are near year-highs.
(Reporting by Ratnajyoti Dutta; Editing by Jo Winterbottom)