Home / Knowledge / News / Textiles / Cotton import bill set to grow
Cotton import bill set to grow
25
Sep '08
Pakistan is expected to import up to US $1.5 billion worth of raw cotton in this fiscal year (July-June). This is coming in the wake of an unprecedented growth in exports of cotton in the last few months.

In the previous fiscal year, Pakistan exported an estimated 272,924 bales of cotton. Shipments of cotton have grown by an astounding 236 percent in July and August of 2008 compared to the corresponding months of 2007. In July alone the sector exported 5,000 MMT of cotton which is a record figure for any given month.

But at the same time during July and August, the country imported raw cotton worth $93.65 million. The industry imported cotton worth $1.101 billion in the last fiscal when it faced a shortage.

The problem is more intense this year than last year. The import bill is also expected to shoot up, since prices of cotton have increased by 40 percent compared to last year on reports of a likely global shortage.

Cotton production in Pakistan for season 2008-09 is anticipated to remain below the level of 11.5 million bales which means it would be 2.5 million bales lower than 14.1 million bales' target set by the Government. This figure is lower than production figure of 2007-08 which stood at 11.7 million bales.

According to a September report of the International Cotton Advisory Committee, production of cotton in Pakistan has been falling with each passing year since 2004. Production of cotton which stood at 2.43 MMT in 2004 fell to 2.08 MMT in 2005 and further dropped to 2.07 and 1.84 MMT in 2006 and 2007 respectively.

It is said that Imports of cotton will have to be made at a time when foreign exchange reserves are very low.

The textile and garment sector contributes 60 percent of the overall baskets of exports from the country and industry experts say that and if the above amount of cotton is not imported it will lead to wide repercussions to the sector and to the country as a whole.

Two good reasons are being forward by experts in favour of importing cotton. A shortage of cotton in the domestic markets would lead to a slowdown in the industry and in turn affect exports. The second reason is that, not importing cotton would lead to a slowdown in the economy leading to wide spread unemployment.

They also add that the initial investment of precious foreign exchange in importing cotton is not so much compared to the amount of foreign currency the industry would generate by value addition and in turn exporting the products.

Fibre2fashion News Desk - India


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search