Extensive cotton production in Pakistan causes losses of US$100 million
According to a report by Pakistan’s “Business Record” on November 2, the 75th plenary meeting of the International Cotton Industry Advisory Committee was recently held in Islamabad, Pakistan. The committee is an intergovernmental commodity association organization composed of cotton producing and consuming countries. Provide cotton industry consulting advice and publish technical information and research reports.
Cotton experts pointed out in their speeches at the meeting that due to the extensive collection and processing of raw cotton and the failure to adopt internationally accepted standard processes, the cotton produced in Pakistan has many residual pollutants and can only be classified as Category B. Its export price is as high as The difference between Class A products is 6-7 cents/pack, causing Pakistan to lose US$400-500 million per year. At the same time, due to backward cotton planting technology, Pakistan, as a major cotton producer, still needs to import about 2 million bales of long-staple cotton every year. Affected by low market prices, climate change and competition from other cash crops, Pakistan’s cotton output dropped sharply by 28% to 1.686 million tons in 2015-16.
The Permanent Secretary of the Ministry of Textile Industry of Pakistan said in his speech at the conference that Pakistan’s cotton production still has great potential to be tapped. If more advanced planting and breeding technologies are adopted, the output can be easily doubled. The government is currently reviewing a new bill to encourage Cotton cultivation and adoption of new technologies and standards. Extensive cotton production in Pakistan results in annual losses of US$400-500 million
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