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Paraguay's cotton export earnings drop 39.4% in 2012-13
13
Aug '13
Exports of cotton from Latin American country of Paraguay were affected due to drastic reduction in cotton harvest during the 2012-13 season.
 
Cotton exports earned US$ 20.3 million in foreign exchange for Paraguay, showing a significant decline of 39.4 percent compared to last year’s earnings of US$ 33.5 million, the foreign trade report of the Central Bank of Paraguay said.
 
From January to July 2013, the bank recoded total cotton shipments at 10,917 tons, registering a drop of 40.5 percent over 18,348 tons of exports recorded during the same period of last year.
 
The decline in exports were mainly due to decline in production, as drought affected the northern part of the country at the beginning of the year, and also because cultivation began with delays.
 
The late arrival of transgenic seeds was the main reason for delay in sowing seeds, as farmers were reluctant to produce cotton with outdated varieties.
 
Compared to harvest of about 82,000 tons of cotton in the previous season, around 43,000 tons of cotton was produced in 2012-13, according to the Ministry of Agriculture and Livestock.
 

Fibre2fashion News Desk - India


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