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Pakistan to import cotton from India in large quantity

Pakistan-pesticide-cotton-006MUMBAI: The officials at Pakistan statistically, is buying more cotton than is expected from India after the flow of flood cut its crop to the smallest in over a period of decade.

According to the sources, this intrusion in the form of flood opened an opportunity for the world’s biggest producer to offload the flow of its bulging stockpiles.

The statistics suggest that the farmers in India have struggled to find buyers over the past years after the world’s top cotton consumer China cut import quotas to increase demand on its fibre. The problem has further been worsened by near record high India output.

The recent hype of purchases by the directive of Pakistan has pushed up cotton prices in India to fill above a state-fixed support price in most regions, reducing the inclined government to buy from the distressed farmers.

“We were not expecting such kind of demand from Pakistan,” Cotton Association of India President Dhiren Sheth said. “Pakistan could buy another 500,000 to 700,000 bales.

According to the intel stated along the lines of industry sources, total cotton imports by Pakistan will more than add up to triple this marketing year, with India mending a fair share given lower transportation costs.

“Due to lower freight, India is the first choice for buyers in Pakistan,” said Shahzad Ali Khan, chairman of Pakistan Cotton Ginners Association.

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