Source: Fibre2Fashion.com

23 Nov 21

 (Fibre2Fashion News Desk (KD): Pakistan’s cotton consumption is likely to increase in the upcoming market year (MY) as cotton production is increasing due to excellent conditions during harvest and a good growing season.

The high production yield and harvest can be attributed to timely rains, less insect attacks, and higher prices incentivising better production management.

The cotton crop has already been harvested and delivered to ginners and output remained well above the crop of previous year. The country’s cotton yarn and cloth exports have also been rising consistently since the beginning of this year.

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The cotton area harvested was 2.45 million hectares in MY 2019-20, which dropped by 10.20 per cent to 2.20 million hectares in MY 2020-21, according to Fibre2Fashion’s market analysis tool TexPro. It is expected to further decrease by 9.09 per cent to 2 million hectares in MY 2021-22.

Cotton production was 6.20 million 480 lb bales in MY 2019-20 and 4.50 million 480 lb bales in MY 2020-21. In MY 2021-22, it is expected to increase by 44.44 per cent to 6.50 million 480 lb bales.

Coming to imports, the country imported 3.98 million 480 lb bales of cotton in MY 2019-20, which went up by 33.92 per cent to 5.33 million 480 lb bales in MY 2020-21.

But it is expected to decline by 6.19 per cent to reach 5 million 480 lb bales in MY 2021-22.

Pakistan’s total domestic consumption was 9.23 million 480 lb bales MY 2019-20 and 10.63 million 480 lb bales in MY 2020-21, recording a rise of 15.17 per cent, as per TexPro.

It is expected to go up by 5.64 per cent to 11.23 million 480 lb bales in MY 2021-22.

(Source: Fibre2Fashion.com)