Pak-India cotton trade halts amid border tension

Pak-India cotton trade halts amid border tension

Textile industry Pakistan

KARACHI: Cotton trade with India has come to a standstill in the wake of heightened tensions between textile industry Pakistan
and India, importers told Business92 Saturday.

Being the world’s third largest cotton consumer, Pakistan imports cotton high quality cotton from different destinations including
India and annual cotton trade was recorded at $822 million.

Senior cotton traders of Karachi Cotton Association (KCA) told Business92 that no significant import order was placed these days.

“War and trade can not go side by side,” a leading Karachi-based importer said, adding that the commercial importers were looking for other markets.

Lower purchases by Pakistan this year could hurt exports from the world’s biggest producer of the fibre
and put pressure on Indian prices, but could also help rival cotton suppliers like Brazil, the United States and some
African countries.

The nuclear-armed rivals have seen tensions ratchet up in the past few months over the disputed territory of Kashmir, and
cotton traders in both countries said they were watching developments along the border with alarm.

Written by 

Related posts

Leave a Comment

error: Content is protected !!