India’s cotton exports in 2016-17 are likely to fall 28 per cent compared to the same period last year, as one of its cotton buyers Pakistan is set to slash purchases from India due to rising hostilities and improvement in its own production.
“Pakistan is likely to import 1 million to 1.5 million bales of cotton in the 2016-17 beginning from October 1, down from 2.7 million bales for the same period last year,” Kavita Gupta, India’s Textile Commissioner said.
It was also reported that Pakistan, the world’s third-largest cotton consumer, usually starts importing cotton from September. In 2015-16, Pakistan surpassed Bangladesh to become India’s biggest cotton buyer and accounted for 40 per cent of total Indian cotton exports. The lower shipments to Pakistan from India will help other suppliers such as Brazil, the US and some African countries as Pakistan is expected to increase its cotton imports from these countries.
India has so far in the season contracted 5,00,000 bales for export compared to 1 million bales last year as demand was weak from overseas buyers, Dhiren Sheth, president of Cotton Association of India (CAI) said.
Apparel & Textile News – Apparel Talk, Indian Apparel
