Cotton imports from India decreases amid unusual hike in price
KARACHI :Â Pakistan resumed cotton imports from India via Wagah border crossing after period of eight months.
Interest of Pakistani mills owners in Indian cotton has dropped significantly amid unusual hike in price.
Chairman of Pakistan Cotton Ginners Forum Ihsan ul Haq stated that Department of Plant Protection (DPP) halted cotton imports from India via the Wagah border crossing amid rising tensions between the two countries eight months ago due to which all imports were being carried via Karachi port.
However, the ban has been lifted after period of eight months and Pakistani authorities have permitted import of cotton via Wagah Border Crossing, pronounced Ihsan ul Haq.
Current report of International Cotton Advisory Committee (ICAC) reveals that per hectare production of cotton in Pakistan remained record 25pc higher than India in cotton year 2016-17.
In cotton year 2016-17, per hectare production of cotton in Pakistan remained at 699 kilogram whereas in India it remained at 560 kilogram.
ICAC further forecasted that per hectare production of cotton in Pakistan would remain 40pc higher than India in cotton year 2017-18.
In cotton year 2017-18, per hectare production of cotton in Pakistan would increase to 739kg whereas in India it would decrease to 530kg, narrated ICAC.
ICAC report also narrated that cotton production in India would soar by 0.1 million tonnes to 6 tonnes, 0.1 million tonnes to 4.8 million tonnes in China, 0.3 million tonnes to 4 million tonnes in US and 0.1 million tonnes to 1.9 million tonnes in Pakistan.
