Importers set to buy Indian cotton

Pakistani importers would have to pay around 70 cents to 72 cents per pound on import of raw cotton from India as the international prices of lint in other cotton growing countries have shown rising trend at 74 cents-75 cents per pound, said a senior trader Ghulam Rabbani. Pakistani mills are mainly importing cotton from India, USA and Brazil and due to rinsing prices in the international market the importers and mills will have to pay an import bill of around Rs 42.5 billion. He said as a result of the lower revised target against the actual position the textile sector has started importing the lint. The Indian cotton prices were around 67-68 cents per pound.

The import is progressing and the millers are looking around to find the good stuff on affordable prices. More than 75% inquiries are being processed for the purchase of lint from India due to lower prices than Africa and Brazil beside the USA.