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Pakistan’s cotton export rises as India bans export - LRE - 07-31-2008 09:34 AM
Pakistan’s cotton export rises as India bans export
By Razi Syed
KARACHI: Country’s cotton export has shown a historic rise during the cotton season August-July 2008 as compared to the same period last year, an official at Trade Development Authority of Pakistan (TDAP) and said Tuesday.
During August-July 2008, Pakistan registered an export of 226,608 bales against 9,577 bales in same period last season, TDAP official said.
In the month of July only, record export of around 32,000 bales was witnessed and the major buyer was Bangladesh.
He said out of the total registration for export, around 19,300 cotton bales were left with the exporters, later dispatched in the next coming month due to delay in shipment and completion of certain export formalities.
“In the international market, Pakistani cotton is getting more attraction due to higher quality from the traditional and non-traditional cotton importing countries”, director on Board of Karachi Cotton Association (KCA), exporter, importer and a ginner, Ghulam Rabbani said.
He said shipments of lint from fresh crop and old crop will be ready after a week for export to India and Far East, as we have already completed three shipments of the cotton season 2007-08 some weeks ago.
He said the international lint buyers consider Pakistani cotton as the best in quality besides it is available on low price. Due to quality cotton, Sindh’s share in exports also increased to 50 percent while its total production stood around 2.65 million bales.
He informed Pakistan’s cotton is available at 68 to 69 cents per pound while in the international market the price is around 81 to 82 cents per pound.
India has banned lint export that has fueled the demand of Pakistani cotton.
He said our lint in the domestic market is cheaper in the world as for the same specification Indian type J-34 is priced at 79 to 81 cents per pound, which translates to around Rs 4,475 per maund.
He said, “A sizeable export will not affect the domestic market’s requirements as the country’s import of PIMA grade (US) and other qualities cotton are still a regular feature, as we face a shortfall of around 3.8 million bales.”
He said current demand of textile sector stood around 15.5 million bales this year of which mills had only purchased around 10.70 million bales till May 2008.
Rabbani said the shortfall would likely be around 4.4 million bales and mills would bear an additional burden of around Rs 50 billion on the imports.
“Shortfall will be met by imports from US, India and Brazil etc but it will take another three to four months to mature till the new spinning activities start”.
http://www.dailytimes.com.pk/default.asp?page=2008%5C07%5C30%5Cstory_30-7-2008_pg5_14