The Government Of Pakistan: Cotton Exports Amounted To 1 Billion Rupees
On July 31st, Pakistan decided to export 50000 packs of staple cotton in the 2008-09 cotton season, which would earn 1 billion rupees in export earnings.
It is reported that in the 50000 packets of short fiber cotton, India will get 30 thousand bags, the remaining 20 thousand packets will be exported to Bangladesh and Indonesia.
About 10 thousand bales of cotton have been exported to India.
At 2007-08 cotton prices, Pakistan exported 280 thousand packs of staple cotton, and imported 4 million 500 thousand packets of long fiber cotton and extra long staple cotton.
With the decision made by cotton exports, the cotton prices in Pakistan's domestic market will be higher, and will be passed to the textile sector in turn. The textile sector has already been burdens of high production costs, and the textile sector strongly opposes the government's decision to export cotton.
A textile owner who asked for anonymity said: "we have reversed the problem of high production costs.
The rapidly rising tariffs on electricity and natural gas have made the textile sector lose competitiveness in the international market.
A week ago, cotton prices reached 3100 rupees / Mende, but with the export decision made, cotton prices rose sharply to 4100-4200 rupees / Mende.
The Pakistan government has promised to cut tariffs on natural gas from 68% to 31%, but SRO still has no action in this regard.
This situation may lead to a shortage of cotton in the domestic market, because production in the 2007-08 cotton season has dropped by only 11 million 600 thousand packs.
It is estimated that cotton production of Pakistan fabric 20%-25% is short in the 2008-09 cotton season.
Cotton farmers are less likely to grow cotton in the 2008-09 cotton season than in the last cotton season because they are worried about the attack of pink worms and cotton leaf insects.
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