Demand for Cotton in Pakistan, China, Vietnam and Indonesia has gone up considerably, pushing the price of domestic Cotton by around Rs 400 per quintal in the last one week.

Against the MSP plus bonus price of Rs 954, Cotton farmers are now getting Rs 1,100 per Cotton bale in the market yards with commitments of around four lakh bales being placed.

Traders and exporters estimate that around 15 lakh bales so far this season have been booked for exports in India, of which nine lakhs have been dispatched. The Cotton shipments from Gujarat has been 3.5 lakh to four lakh bales.

In order to meet growing demand from its textile industry, Pakistan allowed imports of Cotton from India recently. This has boosted export sentiments as the neighbouring country is expected to import 10 lakh bales from India. Current export commitment to Pakistan is estimated at 3 lakhs to 3.5 lakh bales, shipments of which would start from January 2018.

As far as local market is concerned, around 42,000 to 44,000 bales of Cotton are arriving daily in the market. So far, 20 lakh bales have arrived in the market in Gujarat.