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Top cotton buyers flock to India as hurricanes hit US crop

In 2016, the United States exported 86% of its cotton, 69% of which went to Asia

Reuters  |  Mumbai 

The world's top cotton buyers, all in Asia, are flocking to India to secure supplies after fierce storms in the United States, the biggest exporter of the fibre, affected the size and quality of the crop, dealers said. In the past week alone, India, the world's second-biggest cotton exporter, sealed deals to sell about a million bales to China, Taiwan, Vietnam, Pakistan, Bangladesh and Indonesia - key garment suppliers to brands such as H&M, Inditex-owned Zara and Wal-Mart Stores Inc. That compared with 300,000 bales in the two weeks before. Dealers expect contracts ...

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First Published: Thu, September 14 2017. 20:05 IST