Pakistan - 181 percent surge in cotton export: Yarns and Fibers

The country's cotton exports registered a healthy growth of 181 percent during the five months of the current fiscal year mainly due to better quality and low prices, market sources said. They said that exporters are getting export orders of huge quantities on the back of on-time availability of cotton, low prices, slow demand by millers and expected better cotton crop as compared to last year. Following international market rates, cotton prices in the country have also reduced by some 35 percent during last few months and at present average quality cotton prices stand at around Rs 3,100 per maund as compared to Rs 4,200 per maund in August. As per crop assessment committee projection, the country is likely to get a cotton crop of over 12 million bales during current fiscal year as compared to 11.6 million bales in last fiscal year.

Official statistics show that cotton export has increased by 181.32 percent during the July-November period of current fiscal year, exporters said. During July-November of current fiscal year, the country has exported cotton worth $48.943 million as compared to $17.404 million during the same period of 2007-08, depicting an increase of 31.539 million dollars during the first five months of the current fiscal 2008.

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