According to the latest report of the U.S. Agricultural Counselor, the cotton planted area in Pakistan is expected to remain at 1.8 million hectares in 2023/24, in line with the current year, but after the major flood in 2022/23, cotton yields are expected to return to normal, so next year’s cotton production is expected to reach 5.3 million bales, up 36% year-on-year. 36%.
Currently, the 2022/23 cotton harvest in Pakistan has been completed and the cumulative amount of cotton received by ginneries is down 35% year-on-year, with Punjab down 24% and Sindh down 47%.
After a sharp decline in 2022/23, Pakistan’s domestic cotton consumption and textile exports are expected to rebound in 2023/24. With stocks in major textile importing countries falling, buyers will start placing orders with Pakistan and textile production is expected to pick up later in the year, with Pakistan’s domestic consumption expected to reach 9.3 million bales next year, up 3% year-on-year.
Nevertheless, Pakistan’s cotton consumption and textile production are still not very bright due to severe shortage of foreign exchange, difficulties in importing raw materials and machinery and equipment, currency depreciation, rising energy prices, inflation and high tariffs. In addition, cotton imports are expected to remain unchanged as Pakistan’s cotton production is expected to exceed demand in the next year.
Source: China Cotton Network
Post time: Apr-18-2023