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Cotton import bill may shoot up
14 Aug '10
1 min read
It is estimated that over one million bales of cotton will be destroyed, on account of floods across the country, which will make it impossible to attain the production target of 14 million cotton bales, say experts.
However, the final figure of the loss to the cotton crops is still not out. It will be released after the completion of data collection from provinces. With such a huge loss of cotton crop, Pakistan will have to import large amount of cotton during current fiscal 2010-11 to meet domestic requirements.
Around 15.5 million bales was the estimated cotton consumption of domestic industry of Pakistan, while the cotton production target was fixed at 14 million bales with a shortfall of one million cotton bales.
This shortfall may increase to about 4.5 million bales due to floods. Therefore, the country would be required to source around 4.5 million bales from other countries, in order to fulfill domestic needs of cotton.
However, the final figure of the loss to the cotton crops is still not out. It will be released after the completion of data collection from provinces. With such a huge loss of cotton crop, Pakistan will have to import large amount of cotton during current fiscal 2010-11 to meet domestic requirements.
Around 15.5 million bales was the estimated cotton consumption of domestic industry of Pakistan, while the cotton production target was fixed at 14 million bales with a shortfall of one million cotton bales.
This shortfall may increase to about 4.5 million bales due to floods. Therefore, the country would be required to source around 4.5 million bales from other countries, in order to fulfill domestic needs of cotton.
Fibre2fashion News Desk - India
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Andreas Rass
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