Pakistan, has committed to import more than 0.3 million bales of cotton from the US during 2014-15 fiscal year. Pakistan is the eighth largest US cotton importer with import commitments of 3,35,000 bales in the current fiscal year. The country imported 1,69,000 bales of cotton from the US in the previous fiscal year.
US cotton is supposed to be of superior quality. Some Pakistani companies visited the US early recently to observe cotton production, processing and marketing and to meet with US cotton exporters. Pakistan imports high quality cotton from the US and other countries to meet the requirements of its textile industry. Local demand outstrips production and the demand-supply gap has to be filled through imports.
Pakistan’s cotton production during the 2013-14 period declined 9.2 per cent against the target and two per cent over last year’s production. The decrease was due to fall in acreage. Cotton output is estimated to be around 14.94 million bales this year. The country is expected to import around two million bales during 2015-16.
Cotton, has a share of 1.4 per cent in national GDP and 6.7 per cent in agriculture value addition.