According to the latest report of the US agricultural counsellor, the cotton planting area in Pakistan is expected to increase by 5% to 2.1 million hectares in 2022 / 23, with the unit yield unchanged. The cotton output is expected to reach 6.22 million bales, a year-on-year increase of 3.7%.
Driven by the strong export of high value-added cotton textiles, Pakistan’s cotton consumption is expected to increase to 11.4 million bales, an increase of 2%. In order to meet the demand for textile exports, Pakistan’s cotton imports are expected to rebound to 5.2 million bales, a year-on-year increase of 4%.
Throughout 2021, Pakistan’s textile industry has been operating and the reliability of supply has been improved. Although the decline of the rupee against the US dollar had a negative impact on cotton imports, it also enhanced the competitiveness of Pakistan’s textiles. Compared with 2020, the export of cotton fabrics almost doubled in 2021, and the export of other value-added textiles also increased strongly. In 2021, the value of all categories of cotton products imported by the United States from Pakistan increased by 43%, of which clothing and non clothing products increased by 62% and 27% respectively. The main clothing categories are casual pants and knitted shirts, and home textiles account for the majority of non clothing categories.
At present, Pakistan’s spinning capacity is about 13.5 million spindles. Many companies are planning to expand and are expected to add 3.5 million spindles in the next two to four years. On February 16, 2022, Pakistan’s cabinet approved the third “textile and clothing” policy, which retains the existing tax rebates, energy subsidies and credit projects. By 2025, domestic tax and energy policies will continue to support the textile industry, and Pakistan’s textile export prospects remain bright.
Source: China Cotton network
Post time: Mar-23-2022