Indian traders rule out cotton exports to Pakistan

Indian traders have ruled out chances of any immediate cotton exports to Pakistan as the country has already imported cotton from Brazil and African countries.

As per a SRTEPC report, Pakistan produces 50 lakh bales every year and was a major importer of Indian cotton before the start of the border skirmishes. However, since the last two years, it has stopped all imports from India.

Though the ceasefire declared earlier this month has reignited hopes of normal trade ties being resumed, Pakistan spinners are against any imports from India.

As per a Parbhani-based cotton trader said, Indian imports will result in a price crash, which they want to avoid.

Also, farmers in Pakistan plan to harvest new crop after June and imports might affect prices later.

By the end of January, India had exported 29 lakh bales of cotton.

Prices of kapas (raw unginned cotton) have been bullish in the wholesale markets, which has seen the Cotton Corporation of India (CCI) withdrawing from the market.