Home >

Pakistan Floods May Expand India'S Cotton Demand

2010/8/16 12:08:00 37

Fu Stone Group Corporation said that the world's second largest cotton producer India cotton demand may be due to Pakistan cotton.

Flood

The damage is further expanded.

India's demand for cotton in India is excellent after the floods in neighboring Pakistan.

Yesterday, a Stone Company Commodity Risk Intelligence said that the floods destroyed 30% of Pakistan's crops and Pakistan was the fourth largest cotton producing country in the world.

In the past year, New York

cotton

Prices will rise by 27%, and cotton prices will be at a record high until at least by the end of the year, when new cotton enters the market.

according to

Pakistan

According to domestic sources, flood disasters in Pakistan's cotton growing areas have increased the enquiries of panic stricken traders in Pakistan.

Fu four Tong said that the spot market in India reported that cotton prices were strong and the market was active because of increased demand from buyers at home and abroad, especially from neighboring Pakistan.

Cotton prices have risen steadily, and can be described almost as fast as ever. Cotton experts say cotton textile mills are aiming at new cotton, but new cotton is not expected to enter the market until October.

Domestic and foreign markets have strong demand for Shankar-6 cotton in Gujarat, India. The current offer is at 30500-31000 rupees / candy (1 candy = 356 kg).

Experts say another reason is that the stock in the market in the past year is very low.

Meanwhile, as the government will relax the cotton export policy from October, the demand for cotton exporters is also growing.

Mr NP Hirani, President of Maharashtra co operative cotton growers association, said cotton production was 32 million 500 thousand packs last year, and this year's output is expected to record a record of 40 million bags.