India likely to cancel Pakistani cotton import orders
India is likely to cancel Pakistani cotton import orders after the commodity's price surged significantly from the rate at which the two countries have agreed upon, a broker said on Wednesday.
Pakistan is likely to miss the cotton production target of 15 million bales set for 2012-13 and is likely to harvest no more than 13.5 million bales because of a decrease in sowing area as well as flash floods in major crop production areas of Sindh and Punjab.