The cotton export season has commenced on a promising note, as the ginning industry has already secured early orders for 600 tons of cotton. According to Ihsanul Haq, the Chairman of the Cotton Ginners Forum, a prominent cotton ginner from Sindh has successfully finalized export orders to Indonesia and Vietnam, with shipments scheduled for early August. This positive development, as reported by Express Tribune, signifies a potential breakthrough for the cotton industry and brings relief to the textile sector.
Ihsanul Haq further elaborated that Pakistan’s cotton production is anticipated to exceed 10 million bales in the upcoming year, assuming favorable weather conditions persist. This forecast highlights the growing potential of the cotton industry and raises hopes for its future prospects.
However, it is important to acknowledge that the delayed procurement by ginners is contributing to an increase in cotton prices. Currently, prices stand at Rs. 17,500 per 40kg in Sindh and Rs. 17,000 per 40kg in Punjab. Additionally, the fluctuating dollar exchange rate may have further implications for prices in the days to come, as cautioned by Ihsanul Haq.
Notably, the quality and quantity of cotton have shown remarkable improvement compared to the previous year. This improvement can be attributed to favorable environmental conditions characterized by lower rainfall and warmer temperatures in coastal Sindh. As a result, the industry has received early orders and is poised to achieve record-breaking exports.
