India'S Domestic Cotton Prices Rise To Seek Foreign Imports Of Cotton
Because domestic prices in India have risen after the sharp rise in minimum supporting prices. India textile mill began importing raw cotton from Pakistan, while seeking other procurement channels. DKNair, director general of the India Textile Industry Federation, said, yes, the textile mill is importing Pakistan cotton. Some textile mills may purchase American cotton. Domestic prices are too high, because the lowest support price increases, factories are forced to import cotton in other countries. He said that about 150 thousand bales of cotton (170 kilograms) were imported from Pakistan. He said they import cotton from many countries to meet demand. But for business policy, he could not disclose the name of the importing country. The price of India's cotton open market is still maintained at 22600-23500 rupees /candy, and cotton prices in Pakistan are 19000-19600 rupees because of the lowest support price of cotton.
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