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| Pakistan exported 107% more raw cotton exports in July-November 2009 |
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Raw cotton exports of Pakistan registered an increase of 107% in first five months of the current fiscal year (i.e. July-November 2009), mainly due to the rising demand in the international market.
Major cotton producers, including China, are estimated to face short cotton crop this year. Therefore, the demand for cotton in the world market is higher than previous years. Pakistan is expected to yield over 12.5 million bales of cotton crop during 2009-10 as compared to 11.2 million bales in 2008-09, industry players in Pakistan said.
The expected crop yield will not be sufficient to meet the country's overall demand, which presently stands between 15.5-16 million bales. Meanwhile, exports of the Pakistani raw cotton are on surge as the commodity is now freely imported and exported under the WTO agreement.
Pakistani export of raw cotton has been rapidly and constantly rising since July 2009. The country exported raw cotton at a value of US$108.497 million in July-November of current fiscal year 2009-10 against US$52.308 million during corresponding period of 2008-09, depicting an increase of 107.42% or US$56.189 million in value, as per the government’s official statistics.
A local exporter explained that Pakistan's exporters and traders are offering better quality cotton at a reasonable price of 73-75 US cents per pound, as compared to about 80 US cents per pound by Indian traders, for instance. As a result, they are getting massive export orders. This exporter also expects record export of raw cotton in 2010.
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