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Pakistan raw cotton exports break all records

01
May '12
The exports of raw cotton from Pakistan have broken all records to surge to US$ 362 million during the first nine months of the current fiscal year that began on July 1, 2011.

In July-March period of last fiscal, Pakistan exported raw cotton worth US$ 277 million. In comparison, exports have risen by US$ 85 million during the same period in the current fiscal, showing a rise of 30.87 percent, according to the data released by Pakistan Bureau of Statistics.

The US$ 362 million exports achieved during the nine-month period were also higher than US$ 360 million worth of total cotton exports made by Pakistan during the last fiscal year.

In March 2012, Pakistan exported raw cotton worth US$ 68 million, as against exports of US$ 47 million during the same month last year, thus registering a month-on-month increase of 47 percent.

During July-March period, Pakistan exported around 1.2 million bales of raw cotton and is expected to surpass last fiscal's record by June 2012.

Exporters attribute the surge in exports to a number of positive factors including bumper cotton crop of more than 14.6 million bales this year, low cotton prices in Pakistan's domestic market, high demand in export markets, and unclear Indian export policy.

After witnessing a decline in cotton prices in the initial months of the current fiscal, cotton prices in Pakistan are again on the rise. If the domestic market starts giving better returns compared to international market, then exports will automatically see a downtrend, according to industry analysts.

Fibre2fashion News Desk - India


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