The Fall In Cotton Prices Has Led To Pakistan'S Export Earnings Failing To Achieve Its Target.

2012/6/1 10:03:00 7

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Because of the international market Cotton price Pakistan may lose its target of export revenue this year.

The number of cotton exports in the current fiscal year doubled from 534000 to 1 million 171 thousand, compared with last year, a well-informed source said on Tuesday. However, because of the decline in cotton prices this year, the export revenue is expected to be $320 million, compared to last year's export earnings of $231 million.

Insiders said that the price of cotton in the international market last year was 11000 rupees / Meng De, and the price of cotton this year was 6000 rupees. If cotton prices remain unchanged, Pakistan's export revenue may reach $462 million this year, but Pakistan is not expected to achieve its target of export earnings because of falling cotton prices.

They say the price of the international cotton market has continued to drop, leading to pressure on the domestic market. The low demand for yarn in the international market has led to a decline in cotton prices both at home and abroad.

As a result of the international market recession, Pakistan's overall textile exports decreased by 1 billion 100 million US dollars, down 9% from the same period last year.

Insiders said that the current fiscal year textile Exports of US $9 billion, compared to exports of US $1 billion 10 million in the same period last year, were attributed to economic recession and cotton harvest. Cotton prices remained low, causing huge losses to the textile sector.

Pakistan agricultural forum chairman Mohamed Ibrahim Mughal (Muhammad Ibrahim Mughal) said that Pakistan's national export revenue was 25 billion US dollars, of which the export revenue of cotton was 16 billion US dollars.

He said that the cost of cotton production in Pakistan is 300% higher than that in India and China, because if the government does not pay special attention to this sector, their export of cotton will probably be reduced by 3 million US dollars.