Despite The Ban On Cotton Exports, India's Cotton Exports Continue To Expand.

Although prohibited

The Committee held a meeting this weekend to estimate this year.

The Advisory Committee did not estimate the next year's output, but this year's planting area has been expanded to 10 million 500 thousand hectares, up from 10 million 329 thousand hectares last year.

Supplement:

Last week, heavy rain was widespread in non cotton growing areas in northern Pakistan.

However, a small number of cotton planting belts are affected by rainstorms and floods, and cotton fields may suffer nominal losses.

So far, two cotton producing areas in Sindh and Punjab are relatively safe.

15%, the uncertainty of the export tax on cotton yarn is extended or ended, probably due to the government's no longer extended and expired in July 26th.

However, due to rain, seed cotton can not be sold to ginning merchants, affecting the cotton market.

Last week, lint prices fluctuated between 5800 rupees and 6300 rupees, and the price fluctuation was 200-300 rubles, which was regarded as abnormal.

The market report shows that the export is entrust at 10 thousand -1.5 package, the price is 87-90 cents FOB Karachi, some exporters have to purchase thousands of cotton from the market to fulfill the export contract.

Recently, the Pakistan National Bank has increased the discount rate from 0.5% to 13%.

In the international arena, China will continue to play a pivotal role in the world economy.

China is regarded as the engine of the world economy and the global workshop.

To balance exports to the US, China will import raw cotton from the United States.

Asian countries, such as China, India, Pakistan, Bangladesh, Indonesia, South Korea, Thailand, Vietnam and Malaysia, have built their economies on the US and European economies.

In about 40-50 years, Pakistan will realize the full use of indigenous cotton.

Therefore, local enterprises should be encouraged to expand weaving, sizing, towel making, textile and garment manufacturing capabilities to expand the use of domestic yarns.