With the commencement of cotton exports in the current season, Pakistan's textile industry is off to a promising start. A significant cotton ginner in Sindh has sealed agreements to export 600 tonnes of cotton to Indonesia and Vietnam, with shipments scheduled for early August.
Improved cotton quality, attributed to favorable weather conditions including optimal temperatures and minimal rainfall during sowing and picking seasons in Sindh's coastal areas, has garnered early export orders, indicating the potential for record-breaking figures this year.
However, a delay in cotton procurement has led to a rapid increase in prices, with Punjab witnessing prices surge to Rs17,500 per maund after a recent hike of Rs500, while Sindh recorded prices of Rs17,000 per maund.
The fluctuating dollar value adds uncertainty to future price trends. Citing the conducive weather conditions, Pakistan could produce over one crore bales of cotton in the upcoming year, bolstering the textile sector and emphasizing the nation's robust cotton industry potential.
