BizVibe: Despite Global Decrease in Cotton Stocks, Pakistan Remains Prosperous
April 24 2017 - 12:40PM
Business Wire
Increased regulations, increased farmable land, and improved
production are helping to shape the future prospects of Pakistan’s
cotton industry and are allowing it to become an even stronger
competitor in the global market. Details about these developments
are some of this week’s top stories on BizVibe. BizVibe is the
world’s smartest B2B marketplace and allows users to
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BizVibe highlights market opportunities
in Pakistan's cotton industry. (Graphic: Business Wire)
Decrease expected for world cotton
stocks
World cotton stocks reduced by 14% from 22.2 million tons
in 2014/15 to 19.1 million tons in 2015/16, and a further decrease
is expected, causing the market to drop at a projected rate of 7%
to 17.8 million tons by the end of 2016/17.
Despite this, Pakistan’s cotton production is expected to
recover by 24% to reach 1.9 million tons this year, and will retain
its spot as the fourth largest producer of cotton in the world.
India will remain the world’s largest cotton producer, and will be
followed by China and the United States before Pakistan.
Connect with the top cotton companies listed on
BizVibe
Temporary cotton cultivation ban lifted
in Pakistan
A temporary ban that restricted farmers from planting cotton
before mid-April in Pakistan’s Punjab province has been
lifted. The ban was put in place to reduce the risk of pink
bollworm infestation and the loss of cotton crops. Pakistan’s
Agricultural Department reportedly was forced to destroy more than
100 acres of cotton that was sown illegally under the ban and at
risk of infestation.
A wide-reaching infestation of pink bollworm would be
devastating to the province’s cotton production and cultivation,
and would impede Pakistan as a whole from reaching the 2017/18
government-mandated target of 14.04 million bales. Crops sown
before mid-to-late April are at increased risk of pink bollworm
infestation and can compromise an entire season’s yield.
Connect with over 1,000 textiles and fabrics companies
in Pakistan listed on BizVibe
Cotton production in Pakistan already
on the rise for 2017
Cotton production in Pakistan reached 10.727 million
bales as of Apr 15, 2017, an increase of 9.81% from a year prior,
largely due to an increase in land available for cotton
cultivation. This is expected to lead to an additional 10% increase
in its cotton production for 2017/18, forecast at 8.5 million
bales.
Pakistan will continue to be a key importer of cotton for the
foreseeable future, with imports for 2017/18 projected at 2.3
million bales. Pakistan’s government recently announced a funding
package aimed at expanding the textile sector, and includes
reducing cotton import tariffs to zero.
Connect with the top textile machinery companies in
Pakistan listed on BizVibe
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version on businesswire.com: http://www.businesswire.com/news/home/20170424006138/en/
BizVibeJesse MaidaBizVibe Media & Marketing
Executivemedia@bizvibe.comwww.bizvibe.com