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Pakistan Will Import 2 Million Bales Of Cotton This Year.
Pakistan will import 2 million bales of cotton to meet the consumption demand of the local textile industry. If the cotton price in the world market does not rise, it will cost US $300 million. In the current fiscal year, Pakistan is estimated to produce 12 million 100 thousand bales of cotton with a target of 14 million bags. The shortage of cotton is due to farmers turning to rice and oil crops for higher market prices, which was announced at the meeting of the cotton crop assessment committee on Thursday. The meeting was chaired by the Minister of food and agriculture.
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