Pakistan’s cotton exports exceeded 10,000 bales in the first fiscal year
According to Pakistan’s “Business Record” report, in the first eight months of fiscal year 2012 (July 2011 to February 2012), Pakistan exported more than 1.02 million bales of cotton, an increase of 67.2% from 610,000 bales in the same period last year. ; Export volume reached US$294 million, an increase of 27.68% from US$230 million in the same period last year.
Analysts believe that the increase in Pakistan’s cotton exports is mainly due to the substantial increase in export volume, because the international cotton price during the same period dropped compared with previous years. It is reported that Pakistan’s domestic cotton harvest has been bumper this year, and the current output has reached 14.67 million bales, a year-on-year increase of 27%. Industry insiders predict that by the end of this season, Pakistan’s cotton output is expected to exceed 16 million bales.
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