INDIA: Shipment of Indian Cotton delayed due to price rise.
The shipment of Indian cotton has been delayed due to rise in its international price and not because of any restriction from Indian government.
Egytex News Desk
Source: Pakistan Times
This was stated by the Indian High Commissioner Sharat Sabharwal while talking to Federal Advisor on Textile Dr Mirza Ikhtiar Baig in Islamabad.
According to Dr Baig, Indian Envoy said that the international price of cotton has been enhanced from $ 85-90 cent per pound at the time of contract to $ 1.45 per pound todate.
Dr Baig said he was going to New Delhi to meet his counterpart to finalize mechanism for smooth shipment of cotton from India as Pakistan is facing shortage of the silver fibre.
As per APTMA, shipment of 400,000 bales has been stopped in India for which mills have opened letter of credit and contract for balance 600,000 bales have already finalised for balance shipment in the month of December 2010 to February 2011.
Source: Pakistan Times
From the Egytex news archive, first published on 17 January 2011. Figures and names are as reported at the time.
