Related Keywords: drought. push up fabric and clothing prices, halted cotton exports, India, local prices rallied, Pakistan and Vietnam, pressure on margins of garment makers. forced key importers like Bangladesh, tight supplies, turn to other suppliers, world’s biggest producer of cotton
India, the world’s biggest producer of cotton has nearly halted cotton exports as local prices have rallied due to tight supplies because of drought. The price rise could subsequently push up fabric and clothing prices and put pressure on the margins of garment makers. This has also forced key importers like Bangladesh, Pakistan and Vietnam to turn to other suppliers.
The freeze in Indian export will prompt Brazil, Australia and United States to raise shipments and has pushed global prices to near their highest since August.
