Exporters say they can earn over 100 million dollars through export of raw cotton as the production has gone beyond expectation. The Committee on Cotton Crop Assessment has estimated that the country might receive a total of 12.1 million bales in the current season. This would be the highest production since 1992 and would provide greater opportunity for the exporters to earn money, said the exporters.
Pakistan has been an importer of raw cotton for more than three years as the consumption has gone higher. Last year, textile millers imported about two million bales.
"The production of 12.1 million bales still lower than the consumption," said a textile miller. He said that the consumption was somewhere about 13 million bales. Last year, cotton production was just 9.7 million bales.
Exporters said that despite higher consumption, there was still room to export 300,000 to 500,000 bales raw cotton.
However, the exporters expressed fear that falling American cotton prices could put obstacle in their export strategy. They believed that the buyers might not go for bulk import and would prefer to wait for further decline.
Exporters have succeeded to get contracts of about 100,000 bales from Bangladesh, Thailand and Indonesia.
The Trading Corporation of Pakistan (TCP) is also in the race to export cotton as it has been assigned by the government to off-load the cotton in the international market.
The TCP till Monday contracted for over half a million bales form the local ginners, a government move to stabilise the cotton prices in the local market. The TCP so far contracted for 549,300 bales, of which 171,201 bales have reached its godowns.
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