The federal Minister of National Food Security and Research, Syed Fakhar Imam, said in a statement today that the total cotton arrivals on 15 October were 5.208 million bales, which is 94 percent higher than the arrivals on the same date last year.
He also claimed that this year’s revised target of 9.3 million bales will be either met or exceeded.
The arrivals in the ginning factories in Sindh and Punjab are 99 percent and 87 percent higher than those of last year.
Minister Imam has advised farmers to pay close attention to clean picking practices to attain higher cotton grades so that they can obtain import parity prices. He added that they should check the weather forecasts and adjust their field operations accordingly to avoid losses.
He also warned market speculators to refrain from spreading rumors about production figures as this tends to create market instability. He reiterated that the government is ready to intervene if the prices drop below the policy price threshold.
Minister Imam said that the government’s focus on cotton revival through input subsidies, the provision of better quality seed with higher germination rates, and an intervention price policy of Rs. 5,000 per 40 kg is bearing fruit, and higher cotton prices are significantly raising farmers’ incomes.
He said that their hard work and conducive weather conditions have aided higher yields and production. Higher cotton production this year will considerably increase textile output and exports, edible oil from cotton seed, cotton cakes for animal feed, and fuelwood for rural households.
He added that the incomes of the cotton pickers (most of which are women) will also be increased substantially, and higher cotton production this year with its multiplier effect on the economy will boost the GDP.
