KARACHI: The cotton market witnessed higher trading volume in the aftermath of Pulwama attack, dashing hopes of cotton imports from India.
Following the attack India slapped 200 per cent duty on all imports from Pakistan. Meanwhile, buyers are more inclined towards meeting their cotton demand from domestic sources as fears are mounting that Pakistan may slap 200 per cent duty on products coming from India.
However, market talks suggested that many spinners are now looking towards the US and Central Asian States to meet their cotton demand. The world cotton prices are presently highly competitive and could equally suit textile industry’s pricing.