Pakistan Starts Cotton Exports During Current Season

Cotton exports from Pakistan have begun during the current cotton season.

Chairman Cotton Ginners Forum, Ihsan ul Haq, revealed that initial agreements for the export of 600 tons of cotton with Indonesia and Vietnam have been finalized by a major cotton ginner in Sindh.

It is expected that the shipment of these contracts will commence in the first or second week of August. Furthermore, according to the information received, additional export agreements for cotton are also expected to be made by Pakistani cotton ginners in the coming days.Key Cigarette Industry Makers Call For Increasing Advance Tax

He mentioned that due to the absence of rainfall and favorable temperatures during the cotton sowing and picking seasons in coastal areas of Sindh this year, Pakistan’s cotton quality has significantly improved to meet international standards.

As a result, Pakistan has started receiving early orders for cotton exports, and it is anticipated that record-breaking cotton exports may be achieved in the current year.

He further explained that due to the delay in cotton procurement by cotton ginners, there has been a rapid increase in cotton prices.

Consequently, the price of cotton has reached 17,500 Pakistani rupees per maund in Punjab, after an increase of 500 rupees, and 17,000 Pakistani rupees per maund in Sindh.

However, it is believed that the fluctuation in the value of the dollar may have an impact on further increases or decreases in cotton prices.

He informed that if weather conditions remain favorable, Pakistan is expected to produce more than one crore bales of cotton in the upcoming year