THE BIG PICTURE
THE BIG PICTURE
and 412 KMT, respectively, over the last five years . In recent years, the availability of dollars has been a concern for both countries, but Pakistan seems in a better position. Faisal Anis Majeed states that "with the support of the IMF and other institutions, Pakistan is maintaining its trade balance and getting into a better position" stressing that Pakistan "is not currently facing any difficulties getting forex for payments or establishing LCs". In Bangladesh, however, concerns remain over purchasing power. Binod Agarwal suggests that defaults on purchases “have already started”. Getting good value will also be key for the market, suggesting buyers will come out of the woodwork at the right price point. The last piece of the puzzle With 2 MMT to sell, every destination counts for Australia. But one destination
deferred," says Watchorn, “but when Australian farmers stop harvesting or the capacity angle bites, maybe those cheap offers suddenly move up. That's when we might see flattening of the inverse. Buyers are watching for this to happen, and if deferred prices rise, you will see them engage." The world outside India It isn’t just Indian buyers waiting and watching – other South Asian destinations will be keeping a keen eye . Both Pakistan and Bangladesh are big importers of desis when prices work. With Ramadan beginning on February 28, both will want to stock up accordingly – the purchases will need to be made with transit times in mind. How much both countries come for isn’t clear, but history tells a story. For, example, GPC’s Pulse Atlas data shows that Pakistan and Bangladesh have imported an average of 487 KMT
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