Pakistan’s cotton production increased by .% year-on-year
According to a report by Pakistan’s “The News” on January 3, data released by the Pakistan Cotton and Ginning Association on Wednesday showed that affected by the increase in cotton production in Sindh and Punjab provinces, Pakistan’s cotton production increased to 11.11 million bales in 2017 (each bale 170 kg), an increase of 7.2% from 10.36 million bales in the same period last year, but lower than the official forecast of 12.6 million bales. Among them, the output of Punjab Province reached 6.89 million bales, a year-on-year increase of 4.2%; the output of Sindh Province reached 4.21 million bales, a year-on-year increase of 12.38%. Affected by this, cotton prices rose to the highest level in seven years, with a price of 8,100 rupees per morund. The report pointed out that Pakistan is the fourth largest cotton producer in the world, but the average annual demand of the local textile industry reaches 16 million bales, and it needs to import 4 million bales of cotton from abroad every year, making it the third largest cotton consumer in the world. As local cotton production increases, the textile industry has also shifted its focus from imports to the local market. In the fourth quarter of 2017, the amount of local cotton purchased by the textile industry increased from 8.82 million bales in the third quarter to 9.56 million bales. Pakistan’s cotton output increased by 7.2% year-on-year in 2017
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