Cotton exports from Pakistan have kicked off in the current cotton season, marking a promising start for the country’s textile industry. The Chairman of the Cotton Ginners Forum, Ihsanul Haq, disclosed that a major cotton ginner in Sindh has finalised agreements to export 600 tonnes of cotton to Indonesia and Vietnam. The shipments are scheduled to commence in early August, fuelling expectations of a fruitful year for cotton exports.
This year’s cotton quality has significantly improved due to favourable weather conditions, including a lack of rainfall and favourable temperatures during the sowing and picking seasons in Sindh’s coastal areas. As a result, Pakistan has received early orders for cotton exports, indicating the potential for achieving record-breaking figures this year.
However, the delay in cotton procurement by cotton ginners has led to a rapid increase in cotton prices. Prices have reached Rs17,500 per maund in Punjab, following a recent increase of Rs500, and Rs17,000 per maund in Sindh. The fluctuation in the value of the dollar may further impact cotton prices, leading to potential increases or decreases in the future.
Considering the favourable weather conditions, Pakistan is expected to produce more than one crore bales of cotton in the upcoming year, provided that the weather remains conducive, said Haq. This projection bodes well for the country’s textile sector and highlights the potential for a strong cotton industry in Pakistan.
Published in The Express Tribune, July 12th, 2023.
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