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Raw cotton exports plunge in Q1 of current fiscal
27 Nov '10
1 min read
The raw cotton export of Pakistan recorded a drop of 12 percent over the initial four months of the present fiscal year as a result of the deficit in the cotton crop and the upward trend of the cotton prices in the local market.
The country could not achieve its cotton production target and there was a shortfall by 1.4 million bales. According to the recent estimations made by the crop assessment committee, Pakistan's overall cotton production for the fiscal year 2010 was 12.7 million bales. This was less than the set target of 14.1 million bales for the same period.
During the initial four months of the present fiscal year (July-October), the country shipped cotton worth $62.519 million as against the export of about $70.599 million in the same period over the previous fiscal year, thereby registering a fall of $8 million. However, it is worth mentioning that cotton export of $30.141 million was recorded in October 2009, which touched the mark of $55.317 million during October 2010, achieving an increase of 84 percent.
The country could not achieve its cotton production target and there was a shortfall by 1.4 million bales. According to the recent estimations made by the crop assessment committee, Pakistan's overall cotton production for the fiscal year 2010 was 12.7 million bales. This was less than the set target of 14.1 million bales for the same period.
During the initial four months of the present fiscal year (July-October), the country shipped cotton worth $62.519 million as against the export of about $70.599 million in the same period over the previous fiscal year, thereby registering a fall of $8 million. However, it is worth mentioning that cotton export of $30.141 million was recorded in October 2009, which touched the mark of $55.317 million during October 2010, achieving an increase of 84 percent.
Fibre2fashion News Desk-India
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