Cotton exports season is on a promising start with the ginning industry confirming early orders for 600 tons.
Chairman of the Cotton Ginners Forum Ihsanul Haq revealed that a major cotton ginner from Sindh has been able to confirm early orders for cotton exports of up to 600 tons to Indonesia and Vietnam with shipments scheduled in early August.
He explained that if the weather remains favorable, Pakistan’s cotton production is expected to cross 10 million bales in the upcoming year which is a sign of relief for the textile sector and reflects the potential of the cotton industry.
Though, Ihsanul Haq added that the delayed procurement by ginners is also increasing cotton prices with Rs. 17,500 per 40kg in Sindh and Rs. 17,000 per 40kg in Punjab while the dollar exchange rate fluctuation may further impact the prices in the coming days.
It is worth noting that cotton quality and quantity have improved significantly over the last year due to an ideal environment of low rainfall and warm temperatures in coastal Sindh. Because of this, the industry has confirmed early orders and is expecting record-breaking exports.
