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Pakistan's raw cotton exports touch record high
01 Aug '12
1 min read
Much to rejoice of the producers, Pakistan’s raw cotton exports for just concluded FY’12 touched record high level.
Riding on back of bumper production and high demand in the world market, Pakistan’s raw cotton exports for last fiscal year, ended June 30, 2012, soared to all-time high levels of 1.66 million bales.
Volume-wise, Pakistan exported 77.8 percent or 0.729 million bales more than previous fiscal’s exports of 0.937 million bales.
In terms of value, Pakistan exported US$ 462 million worth of raw cotton during last fiscal, which is 26.65 percent or US$ 97 million more than 2010-11’s exports worth US$ 365 million.
However, raw cotton exports for June 2012 depicted a 76 percent fall from June 2011’s US$ 14.878 million and dipped to US$ 3.62 million.
Despite being the world’s fourth largest cotton producer, Pakistan lacks in terms of producing high quality cotton, which requires it to import such cotton from other countries.
Pakistan produced bumper 14.6 million bales of cotton during last fiscal, which is likely to increase to 15 million bales this fiscal.
Fibre2fashion News Desk - India
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