NEW DELHI: Indian traders are preparing to export hundreds of thousands of cotton bales and tons of sugar to Pakistan.
Indian media quoted Arvind Jain, vice-president of Khandesh Gin/Press owners and Traders Welfare Association, as saying that they were reading to export around 10 lakh bales of cotton to Pakistan in the next three months as soon as the Indian government gave them go-ahead.
“Our products can reach Pakistan within three days. We also have the cost advantage as Indian candy (376 kg of ginned pressed cotton) is at present retailing at Rs 46,000 as against the prevalent price of Rs 52,000-55,000 price in international markets,” he said, adding that if exports to Pakistan are allowed, India can start the next October- September cotton season with about 45 lakh bales. “In such a situation, cotton growers can expect above MSP prices easily right from the start of the season,” he said.
Similarly, Indian Sugar Mills Association has also welcomed the news of Pakistan allowing sugar imports from India.
Local media quoted Abinash Verma, director general of Indian Sugar Mills Association, as saying that Indian millers have so far inked export orders of 45 lakh tonnes of the target of 60 lakh tonnes. Most of the sugar produced in India has gone to markets in Indonesia, Middle East, East Africa, Sri Lanka, Afghanistan and Bangladesh.
He said in case the Pakistan market is made available, India can easily fulfill its export target for the current year, thus ending up with an opening stock of 90 lakh tonnes, which will not weigh down the economics of the sector.