By admin       2017-12-08

Cotton prices in the domestic market firmed up on Thursday despite recent news that India has allowed exports from January 2018 to March 2018. This will enable local mills to make further purchases of good quality cotton from India which is presently economical due to proximity of Pakistan and India allowing for cheaper freight rates and quicker deliveries.Though Pakistan is projected to produce anywhere from 11 to 11.5 million bales (155 Kgs) domestically, it will need to import about 2.5 to 3 million bales of cotton during the ongoing season (August 2017/July 2018). Imports may thus start from January 2018 from India.Traders said in Karachi that the incoming cotton from the domestic supply during the current season (2017/2018) will deteriorate gradually as the season advances. According to cotton consultant Naseem Usman, Pakistan mills have already contracted to buy 300,000 bales from India. Earlier, the All Pakistan Textile Mills Association (APTMA) had urged the government to remove the restriction to import cotton from India. In total, about 800,000 bales are expected to be imported into Pakistan from India. Total cotton imports into Pakistan are likely to be upto three million bales during the current season (2017/2018).

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