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Transport strike ends, cotton exporters still fear losing orders
27
Aug '08
Cotton exporters of Pakistan are afraid of loosing their orders due to delay in shipment caused by the goods transporters strike.

Mr Shakeel Ahmad, an exporter and member of Karachi Cotton Association told Fibre2fashion that the eight day long strike got over yesterday and in the meanwhile, “around 23,000 cotton bales worth Rs400 million were waiting to be transported to the ports.”

A number of export orders to Bangladesh, India and Far East are facing the risk of being completely annulled due to delayed deliveries, arousing concerns among exporters about how to bear the additional cost of holding the stocks.

Although Pakistani exporters are doing their best by asking importers to ignore the possibility of delay, buyers are not convinced and there is all the likelihood that the orders might get cancelled. This would cause a loss of Rs370 million and an additional damage to the quality of the cotton which would attract moisture and for sure dampen in the open.

Cotton exports from Pakistan stood at the highest level during July 2008, as Bangladesh alone imported around 14,700 cotton bales during the same period while Indian buyers bought about 9,050 cotton bales.

Besides, registered cotton exports amounted to 226,610 bales in season August-July 2008, recording a historic rise of around 28 percent as compared with the same period last year. Of these about 20,100 cotton bales were held up due to delay in shipment and completion of certain procedural formalities.

However, there are still hopes for a renewed boom in exports since Pakistani cotton is still cheaper in the international market and is considered as qualitatively superior. This has created a huge demand in both traditional and non-traditional cotton importing countries.

Fibre2fashion News Desk - India

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