The financial Tribune reported on August 30 that according to the CEO of Iran’s cotton fund, due to the drought and the low efficacy of pesticides sold on the market, pests are rampant in Iran’s cotton plantations, which has an impact on cotton production. It is expected to produce about 60000 tons of refined cotton this year.
The official pointed out that the demand for refined cotton in Iraq is increasing every year. At present, it is more than 150000 tons per year. Last year, it imported more than 77000 tons of cotton. However, in view of the decline in output, it needs to import about 100000 tons this year. It is expected to resume foreign procurement from mid September. The local textile industry said it would need 200000 tons of cotton in the next few years to meet the growing demand.
Source: Economic and Commercial Department of the Embassy in the Islamic Republic of Iran
Post time: Sep-07-2021