Raw cotton''s July-May import surges 64 percent

Country''s raw cotton import has surged by 64 percent during July-May 2007 due to low production and huge demand of contamination-free cotton by textile millers, importers said.
Despite Pakistan is the third largest producer of cotton in the world but contamination and low-grade cotton production are the major factors behind the increasing import of raw cotton. Pakistan''s contamination-free cotton production has been less than 0.1 million bales, they added.
The country has not met its cotton production target of 13 million bales and missed by some 0.589 million bales, as the total production stood at 12. 41 million bales, therefore shortfall has reached over 3 million, they said.
During the first eleven months of the current fiscal raw cotton import increased by 64 percent to $559.306 million as compared to $340.865 during the corresponding last year, depicting an increase of $218.441 million during July-May 2007. Statistics show that during last month (May 2007) raw cotton import increased by $129.585 million to $136.027 million against $106.442 million imports during same period of last fiscal.
Importers said that raw cotton import is increasing gradually, despite high rate in the international market due to contamination. It is expected that by the end of the current fiscal year raw cotton import will cross 2 million bales.
On monthly basis, raw cotton import also rose by 17 percent in May as compared to April 2007. During April 2007 cotton imports stood at $123.796 million against $136.027 million in May 2007.
"Pakistan is the third largest producer of the cotton, but due to unawareness amongst farmers are failed to produce quality cotton, therefore our export oriented textile industry is relaying on imported cotton, "importers said.
Textile industrialists are demanding long-staple cotton, as its production is short in the country to meet the local industry''s demand.
Manufacturers are importing quality raw cotton mainly from USA, Brazil, India and some other countries to fulfil the local textile industry''s demand, they said.
During the current year, country is facing a shortfall of 2.5 to 3 million raw cotton bales, which is also a big reason of increasing cotton import, importers said. It is expected that at the end of the current fiscal year raw cotton import will cross $675 million benchmark, they said.