Cotton output hits record high of 14.83 million bales

LAHORE: Pakistan’s cotton production surged to a new high of 14.83 million bales during the current production year as the output marginally crosses previous record arrival of crop in a year at the ginning mills, an industry official said on Friday.
Ehsanul Haq, Chairman Pakistan Cotton Ginners Forum said output is likely to reach 14.94 million bales in the crop year to April 2015 as at least 50,000-60,000 more bales are expected to arrive for ginning before end of the cotton year. One bale equals 160 kg.
Cotton and textile account for about two-thirds of the country’s exports and a healthy cotton crop is vital to economic growth, which is expected to grow over five percent in the current financial year to June.
Haq said a fresh estimate on the output is based on the fortnightly data jointly released by Pakistan Cotton Ginners Association (PCGSA), All Pakistan Textile Mills Association (APTMA) and Karachi Cotton Association (KCA) by end of March 2015.
Pakistan achieved record cotton production of 14.81 million bales in 2011/12, but output has been falling since then.
“The current year’s production of cotton also surpassed the official output target of 14.88 million bales.
The average per acre yield also witnessed a jump of about 14 per cent,” Haq said. “Cotton arrival also crossed last year’s level of 13.31 million bales, showing about 11 per cent increase.”
During the last production year, flood wreaked havoc with standing cotton crop in Punjab and affected around 250 thousand bales of production. Main cotton affected districts were Multan, Muzaffargarh, Khanewal and Jhang.
Haq said production of cotton was recorded at 9.60 million bales in Punjab, which is about 1.2 million bales or 12 percent more than last year’s arrival.
“On the other hand Sindh’s cotton production saw an increase of about 200,000 bales or nearly five percent addition than the previous year’s output,” he added.
Attributing favourable weather conditions and availability of cotton seed for record cotton harvesting, Haq said farmers through did not happy over low prices of cotton in the market since the onset of its picking.
“However, price of cotton has lately seen upward trend with Rs 100-200 per 40 kg increase in recent days.”
He expressed hope that with rising trend in devaluing rupee against the dollar, the upward trend in cotton prices is expected to continue in near future.