MULTAN: The country’s cotton production surged by a whopping 70 per cent YoY to 6.852 million bales in November, as opposed to 4.027m bales produced in the same period of last year.
As per Pakistan Cotton Ginners Association (PCGA) data released on Thursday, the increase casts positive overtures on the cotton production outlook as the production target is set at 9.74mn bales for FY22.
Similarly, rising yields might lead to higher textile production and exports.
It is prudent to mention that Pakistan’s textile exports reached $6.02 billion during July-October FY22, depicting a growth of 26.55pc on the back of strong demand for Pakistan’s textiles in the global market.
Details made available by association show that textile mills have so far purchased 6.22m bales whereas 16.4 thousand bales have been sold to exporters.
Both Sindh and Punjab have recorded a substantial increase in cotton production wherein the former one took a lead.
As of November, cotton production in Sindh rose by 83pc YoY to 3.439m bales while in Punjab, production was recorded at 3.413m bales, up by 59pc compared to the corresponding period last year.
