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Cotton exports to see 30% growth in current fiscal

29
Oct '09
It has been expected that during current crop season (2009-10), cotton exports will see a 30 percent growth and will reach 1 million bales compared to previous season's (2008-09) exports of 0.7 million bales, said exporters.

Both local and foreign multinational companies, who export and import cotton from Pakistan, are purchasing from the cotton future markets as well as placing new orders, while the export orders for above 50,000 cotton bales have been confirmed, informed Mr. Ghulam Rabbani, a cotton trader of repute and a director of the Karachi Cotton Association.

As lint prices in the international markets went up, country's global exports witnessed increase which stood over 72,000 bales during the period of January to September 2009, he added.

Further he said that the good quality and low priced products offer a clear edge to Pakistani exporters over competitors in the international market. Export orders valued at above $12 million will be fulfilled within next four months and Bangladesh is still the major importer of Pakistani items, he added.

In international market the rates of US cotton are around 66 cents per pound and that of Indian cotton it is approximately 64 cents per pound while for Pakistani cotton it is nearly 55 cents per pound on C and F basis, informed Mr. Rabbani.

Fibre2fashion News Desk - India


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