LONDON--(BUSINESS WIRE)--Increased regulations, increased farmable land, and improved production are helping to shape the future prospects of Pakistan’s cotton industry and are allowing it to become an even stronger competitor in the global market. Details about these developments are some of this week’s top stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high-quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe.
Decrease expected for world cotton stocks
World cotton stocks reduced by 14% from 22.2 million tons in 2014/15 to 19.1 million tons in 2015/16, and a further decrease is expected, causing the market to drop at a projected rate of 7% to 17.8 million tons by the end of 2016/17.
Despite this, Pakistan’s cotton production is expected to recover by 24% to reach 1.9 million tons this year, and will retain its spot as the fourth largest producer of cotton in the world. India will remain the world’s largest cotton producer, and will be followed by China and the United States before Pakistan.
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Temporary cotton cultivation ban lifted in Pakistan
A temporary ban that restricted farmers from planting cotton before mid-April in Pakistan’s Punjab province has been lifted. The ban was put in place to reduce the risk of pink bollworm infestation and the loss of cotton crops. Pakistan’s Agricultural Department reportedly was forced to destroy more than 100 acres of cotton that was sown illegally under the ban and at risk of infestation.
A wide-reaching infestation of pink bollworm would be devastating to the province’s cotton production and cultivation, and would impede Pakistan as a whole from reaching the 2017/18 government-mandated target of 14.04 million bales. Crops sown before mid-to-late April are at increased risk of pink bollworm infestation and can compromise an entire season’s yield.
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Cotton production in Pakistan already on the rise for 2017
Cotton production in Pakistan reached 10.727 million bales as of Apr 15, 2017, an increase of 9.81% from a year prior, largely due to an increase in land available for cotton cultivation. This is expected to lead to an additional 10% increase in its cotton production for 2017/18, forecast at 8.5 million bales.
Pakistan will continue to be a key importer of cotton for the foreseeable future, with imports for 2017/18 projected at 2.3 million bales. Pakistan’s government recently announced a funding package aimed at expanding the textile sector, and includes reducing cotton import tariffs to zero.
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