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Resumption of cotton import by Pakistan

YarnsandFibers News Bureau 2016-12-09 13:00:00 – Karachi

Pakistan after suspending cotton import from India for few days has resumed cotton imports. With the resumption of cotton trade, India can now exporting its surplus cotton, while Pakistan will benefit from cheaper supplies from the neighboring country.

Last month Pakistan suspended cotton imports from India, saying shipments failed to fulfill phyto-sanitary certification, threatening the $822 million-a-year trade.

Imran Shami, director general of Pakistan's Plant Protection Department (DPP) said that they have started re-issuing permits. But the Authorities are still working on the certification issue.

An exporter based in the western state of Gujarat said that they are hopeful that Pakistani buyers will fulfill the contracts as they has started issuing import permits,

Indian traders have signed contracts to export 350,000 bales to Pakistan since the start of the marketing year on Oct.1. Out of that nearly 300,000 bales for shipments in December and January were stuck after Pakistan suspended imports.

Chirag Patel, chief executive officer of Indian exporter Jaydeep Cotton Fibers said that Pakistan still needs to import at least 2 to 2.5 million bales as it's cotton consumption is pegged around 15 million bales, while it is likely to produce around 10.5 million bales. Resumption in trading will help both the countries.

Last year, Pakistan bought 2.7 million bales from India and supported Indian cotton prices at a time when China was cutting imports.

In 2015/16, Pakistan become India's biggest cotton buyer, accounting for 40 percent of exports surpassed Bangladesh.

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