Pakistan Cotton Production Is Expected To Be High
Industry officials said Wednesday that the 2011/12 crop year
Pakistan cotton
Output is expected to reach nearly 15 million packs, and farmers have completed 8 million acres of cotton planting.
Cotton production has increased, which accounts for 1.4% of the gross national product (GDP) of the cash crop.
The new fiscal year from July 1st must achieve 4.2% economic growth.
2010/11's economic growth dropped to 2.4%, partly due to the 2010.
Catastrophic flood
Cotton crops suffered losses from 14 million to 11 million 700 thousand packages.
Ibrahim Mughal, chairman of the Pakistan agricultural forum, said that according to preliminary estimates, cotton acreage totaled 8 million 500 thousand acres. (Ibrahim)
15 million bales of cotton should be produced.
Higher domestic prices encourage farmers to expand cotton production.
This year, due to tight supply, and earlier
International price
The spot price of cotton in Pakistan has been as high as 14000 rupees (163 US dollars) / 40 kilograms.
American cotton rose on Tuesday because of business and investor buying.
ICE cotton futures contract rose 0.20 cents in December, closing at $1.3178 / pound, with a trading range of US $1.2852 -1.3208 US dollars.
On Wednesday, Pakistan's spot price was 8000-9000 rupees / 40 kilograms, because new cotton began to enter the market gradually, Karachi trader Nassim Osman said.
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