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India revokes cotton ban, to benefit Pakistan
26 Aug '10
1 min read
Pakistan may now import cotton bales from India since the Indian government has decided to allow exports with no mandatory licenses from October 1. An expert said that the domestic shortfall of around 2 million bales can be overcome, if Pakistani importers could source from India.
The country has already lost 2 million cotton bales owing to the recent flash flood, but still would get the output of over 12.7 million bales this season. During the outgoing cotton season of 2009-10, the country produced around 12.69 million bales, but, the overall requirement of domestic textile sector is around 15 million cotton bales.
This year, cotton prices in India showed a sharp rise due to a large volume exports to China. Ever since the 2009-10 crop season began from the month of October, cotton prices have increased by 47 percent.
The country has already lost 2 million cotton bales owing to the recent flash flood, but still would get the output of over 12.7 million bales this season. During the outgoing cotton season of 2009-10, the country produced around 12.69 million bales, but, the overall requirement of domestic textile sector is around 15 million cotton bales.
This year, cotton prices in India showed a sharp rise due to a large volume exports to China. Ever since the 2009-10 crop season began from the month of October, cotton prices have increased by 47 percent.
Fibre2fashion News Desk - India
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