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Speech by Mr. Akbarali at KCA meeting
07
Jan '08
Speech by the outgoing chairman, the KCA, Mr. Akbarali Hashwani at the extra ordinary general body meeting of the members of the KCA held on 04.01.2008:

LOCAL COTTON SITUATION FOR 2006-07:
The target of cotton production for 2006-07 fixed by the Government of Pakistan as 13.816 million bales ex-farm (Punjab 10.6582 million bales, Sindh 3.130 million bales, Baluchistan 0.094 million bales and NWFP 0.01 million bales).

However, the production registered marginal decline in 2006-07 due to floods/rain fall. According to the final report of the PCGA for the year 2006-07, the total arrival of cotton into the ginneries as on May 01, 2007 was recorded as 12.411 million bales.

The mills consumption of cotton continued to increase around 14.1 million bales in 2006-07 following modernization and installation of new spindles.

According to Trade Development Authority of Pakistan, the exports of cotton during the year 2006-07 (Aug.-July) was recorded as 262,917 bales and imports of cotton was recorded as 2,987,347 bales of 170 Kgs as per reports of the Federal Bureau of Statistics which helped the local mills to meet their requirements of long and extra long staple cotton for production of higher counts of yarn.

COTTON SITUATION FOR 2007-08:
The target of cotton production for the year 2007-08 was fixed at 14.14 million bales by the Government (Punjab 11.00 million bales, Sindh 3.00 million bales, Baluchistan 0.01 million bales and NWFP 0.13 million bales).

Due to Mealy Bug and Cotton Leaf Curl Virus attack reported in some cotton producing areas in Upper Sindh and the Lower Punjab and reduction in yield per acre on account of adulterated and uncertified BT Cotton Seed has caused drastic reduction in production. The prospects of good cotton crop in 2007-08 is also doubtful.

INTERNATIONAL COTTON SITUATION:
The world cotton production for the year 2007-08 has been estimated to decline upto 115.787 million bales (480 lbs. each)from 119.248 million bales in 2006-07 due to decrease in cotton production in all cotton producing countries except India.

The world cotton consumption has been estimated to increase upto 127.155 million bales in 2007-08 against 122.721 million bales in 2006-07 with a notable increase consumption of cotton in China.

The world cotton exports has also been estimated to increase upto 40.808 million bales in 2007-08 against 37.07 million bales in the previous year 2006-07.

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