Islamabad, Nov 4: Cotton Import Bill to Rise 3.9x in FY25 as Local Production Falls by 37%
As of October 31, 2024, Pakistan received 4.29 million bales of cotton, a 37 percent decrease year-over-year (YoY) from 6.79 million bales the previous year.
Due to limited production, Arif Habib Limited predicts that the cost of importing cotton will increase by 3.9 times during the current fiscal year.
Poor farmer economics and postponed cotton crop sowing have been blamed for the decline in cotton arrivals.
205,000 tons, or 1.2 million bales, were imported by the nation last year, totaling $448 million.
There will be a need for 5.4 million bales of imports in FY25 as local production is expected to reach 6.0 million bales.
The projected $1.9 billion cotton import bill is 3.9 times greater than the $448 million import bill from the previous year.
The Pakistan Ginners Association (PCGA) reports that Punjab produced 1.842 million bales, down from 2.997 million the previous year.
With 2.449 million bales, or 33% higher than Punjab’s total, Sindh did better.
