Cotton exports are off to a good start, with the ginning business confirming early orders for 600 tonnes.
Ihsan ul Haq, Chairman of the Cotton Ginners Forum, reported that a large Sindh cotton ginner has confirmed early orders for cotton exports of up to 600 tonnes to Indonesia and Vietnam, with shipments anticipated for early August.
He stated that if the weather remains favourable, Pakistan’s cotton production is likely to exceed 10 million bales in the coming year, which is a relief for the textile industry and represents the cotton industry’s potential.
However, Ihsanul Haq stated that ginners’ delayed purchase is also raising cotton prices, with Rs. 17,500 per 40kg in Sindh and Rs. 17,000 per 40kg in Punjab, while currency fluctuations may further effect pricing in the coming days.
Cotton quality and quantity have improved greatly in the recent year as a result of an optimum environment of minimal rainfall and mild temperatures in coastal Sindh. As a result, the industry has confirmed early orders and anticipates record-breaking shipments.