Pakistan will have to import 2 million bales of cotton for consumption by local textile industry, which would cost $300 million, if cotton prices did not increase in world market. About 12.1 million cotton bales are estimated to be produced during the current financial year against the target of 14 million bales.
The shortfall in the projected yield is stated to be result growing trend of growers towards rice and oilseeds cultivation, for their higher market prices. This was stated in a meeting of the Cotton Crop Assessment Committee here on Thursday. The meeting was chaired by the Minster of State for Food and Agriculture.
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