Virus Prompts India Top Cotton Trader to Stop Sales to China
- Kotak Commodity Services will look for buyers in other nations
- India’s export of 300,000 bales to China may not happen: Kotak
Photographer: Dhiraj Singh/Bloomberg
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Kotak Commodity Services Pvt., one of India’s top cotton exporters, will stop selling new cargoes to China on concern the spread of coronavirus may force the top buyer of the fiber to close ports and banks.
The Mumbai-based company will look for new buyers of cotton in countries such as Bangladesh, Indonesia, Taiwan and Vietnam to make up for any possible shortfall in sales to China, Vinay Kotak, director of the company, said in an interview by phone on Tuesday.