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High cotton crop likely. To benefit Pakistani textile sector
19
Jul '11
Pakistani textile sector is to benefit as the country's overall cotton production during the current 2011-12 fiscal is expected to rise by 28 percent to 15 million bales, according to the Ministry of Food and Agriculture. The Ministry expects the global cotton output to grow by nine percent during the same period.

According to experts, such a prediction would decide the future course of the cotton prices in global as well as local markets.

The ambitious target of producing 15 million bales of cotton during the current 2011-12 fiscal is much higher than last fiscal's output of 11.7 million bales, which suffered a hit due to floods.

The Ministry's predictions are mainly backed by a probable rise in total area under cotton cultivation, which is anticipated to go up by eight percent to 8.5 million acres. However, experts consider this as a buoyant target as water scarcity still prevails, alongside the threats of attack of Leaf Curl Virus and other pests. They cite 13 to 13.5 million bales as a more realizable target.

Cotton prices touched their optimum levels during the third quarter of the 2010-11 fiscal. However, owing to deceleration in demand from mills in China and expectation of a better crop output in forthcoming season, they started declining since April this year.

Further, as the price of cotton is expected to calm down during the current fiscal, it will greatly influence the profitability of individual spinning mills. It is because these mills would no more be able to reap extra profits due to continuously soaring prices and supply concerns.

As per the United States Department of Agriculture's (USDA) estimates, the global cotton production is likely to increase by nine percent to 123.8 million bales for the current 2011-12 fiscal. If the expectation turns good, it would beat the existing record of all-time high production of 121.8 million bales achieved in 2006-07.

Moreover, it is also worth noting that stirred by recovery from the global economic slump and good output predictions, the global consumption is also expected to rise from 2010-11's 115.5 million bales to 119.5 million bales during 2011-12 fiscal.

Fibre2fashion News Desk - India

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