Cotton production in the country has declined by 34.35 per cent to 5.571 million bales. Reports have the lowest cotton production which is dangerous for the textile sector as well as for exports.
LAHORE: The Pakistan Cotton Ginners Association (PGGA) has said in its annual report that the country’s cotton production has declined by 34.35 per cent to 5.571 million bales as on January 31. According to media reports, representatives of the textile industry commented on the shortage of 2.9 million bales and the dire situation, saying that poor production capacity could affect the export-oriented textile sector, which contributes 55 to 60 per cent to the country’s total exports. ۔
Naseem Usman, a cotton expert and chairman of the Cotton Brokers Forum, said, “This is the lowest cotton production in 30 years, which is dangerous for the textile sector as well as for exports. Cotton production is significant in both Punjab and Sindh.” Decreased.
By the end of January, cotton production in Punjab stood at 34.36 million bales as compared to 5.014 million bales produced in the same period last year.
Production in Sindh has declined by 38.5% to 2.134 million bales as compared to 3.472 million bales in the same period last year. However, textile exports increased by 7.8% during the first six months of the current financial year. However, the industry had to import cotton worth 32 321 million in the first five months of the current financial year. Asif Inam, zonal head of the All Pakistan Textile Mills Association, said that the shortage of cotton Production cost has increased as textile mills have to import expensive cotton. Imported cotton is 15% more expensive than local cotton. However, we are trying to adjust this extra cost and increase exports.