Cotton output rises by 32% to 7.43mn bales as of Feb 15

February 18, 2022 (MLN): Pakistan’s cotton production surged by 32.4% to 7.43 million bales up to February 15, 2022, as opposed to 5.62 million bales produced in the same period of last year, the Pakistan Cotton Ginners Association (PCGA) said in its fortnightly report released today.

This significant increase was the result of the government incentives being provided to the farmers in the form of interest-free loans, premiums on crop insurance, subsidies on purchase of basic inputs, agricultural machinery, and laser land levelers. Also, the hard work of cotton growers and favorable weather conditions helped achieve higher yields.

These higher yields might lead to higher textile production and exports. It is prudent to mention that Pakistan’s textile exports reached a historic high of $11 billion during July-January FY22, depicting a yearly growth of 25% on the back of strong demand for Pakistan’s textiles in the global market despite the resumption of economic activities in competing countries.

Going into details made available by association, textile mills have so far purchased 7.30mn bales while 16,000 bales sold to exporters.

Province-wise, cotton production in Sindh rose to 3.51mn bales, up by 64.5% YoY while in Punjab, the production was recorded at 3.92mn bales as of Feb 15, indicating a growth of 12.7% YoY, the association said.

To note, the National Assembly's Standing Committee on Agricultural Products on Thursday sought the government's intervention in price and quality seed of cotton to ensure production and availability of high yielding and disease resistant certified seed for cotton and wheat.

Presided by the National Assembly Speaker Asad Qaiser, the Committee recommended early announcement and upward revision of the intervention price for cotton and vowed to develop a new regulatory framework to arrest the adulteration of agricultural inputs.

Copyright Mettis Link News

Posted on: 2022-02-18T14:41:23+05:00

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