India Signed 20000 Cotton Contracts From Pakistan

India industry executives said the country had already signed 20000 packages from Pakistan.

The contract is scheduled for this month, due to domestic

There is a limited supply and jump up.

India is the largest cotton producer in the world.

This reversed the earlier role of the exporter in the country, when Pakistan bought cotton from India because of its adverse weather conditions.

Dhiren Sheth, President of India Cotton Association, said, "we import about 20000 bales of cotton from Pakistan.

The cost of landing cotton is lower than domestic prices.

From 2015/16 in October 1st, cotton prices in India have risen by 28% to 40800 rupees /candy (356 kg, or 77.4 cents / lb) due to drought for two consecutive years.

Mumbai Global

The FOB price of cotton supplied in Pakistan is about 70 cents per pound, according to the company's traders.

"The supply of both countries is decreasing.

India's price rise has allowed it to import from Pakistan, while limiting the number of exports.

Sheth said that in India, about 1 million 200 thousand bales of cotton had been imported in 2015/16, and 400 thousand additional packages were needed before the new works arrived in the market from the end of September.

The country has exported about 6 million 500 thousand bales of cotton this year, of which nearly 2 million packages have been exported to Pakistan.

Shahzad Ali Khan, chairman of the Pakistan cotton ginning workers association, said India's purchase had already pushed up domestic cotton prices.

The Pakistan Textile Mills Association has urged the government to restrict the export of cotton to India in order to supply raw materials to domestic textile mills.

India's senior industry officials, including Sheth, said Pakistan should not restrict cotton exports because they import cotton from India when needed.

A trader in Karachi said that global cotton prices should rise sharply in the next few months as the main production Treasury will be depleted.