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Rupee-dollar parity may help increase cotton exports – Mr Rabbani

27
Jul '09
Mr Gulam Rabbani
An official from the Pakistan Central Cotton Committee had mentioned that cotton export may jump by 25 percent in the new cotton season, which effectively means that the textile sector would be able to generate an additional Rs 10 billion of foreign exchange.

This statement comes on the back of a report that cotton sowing acreage has increased by 40 percent in Sindh and a rise in usage of Bt cotton seeds, which could mean higher cotton crop yields and production in the new cotton season.

Mr Gulam Rabbani, Director of the Karachi Cotton Exchange and a cotton trader of repute commenting on the same said, “Late July is too early to talk about the crop size. It would be appropriate to comment on the same in September”.

He added by saying that, “This is since, by then the effects of the monsoon or pest attacks will be fully known. Still the figure of about 45 percent increase in the cotton sowing area is a big question as we do not have as much lands available with us”.

He continued by saying, “I can reasonably say that the sowing is in increased numbers but it is not more then 7-8 percent and increase in export is quite possible because of rupee dollar parity level which is now much less than any cotton exporting state”.

“Pakistani cotton is cheapest in the world with its matching grade when compared with cotton in any part of the world, which may lead to propel in the exports to higher numbers”, he concluded by saying.

Fibre2fashion News Desk - India


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