Impeding Floods Drown Pakistans Cotton Exports
The deadly flash of flood that swept across the lands of Pakistan has wiped off the country's positive expectations regarding cotton exports.
Flood... A grim reminder of danger in wilderness has destroyed more than one million bales of cotton crops, and the Government is powerless to achieve its target of 14 million bales of annual production. Due to this, Pakistan, being Asia's fourth largest producer of cotton is likely to fall back by 10-15% of its cotton production. Most of the agriculture being done on the banks of rivers, the extent of damage was more in these localities.
The heavy deluge that swamped through the cotton fields, threatened the commodity's production causing it to slump. Incessant downpour has damaged the fields in Piplan Layyah, Mianwali, and Mithankot. Regions in the Central Punjab such as Rajanpur, Lyia, Rahimyar Khan, and DG Khan were seriously affected losing thousands of bales of cotton crop. Areas of Ghotki, Daherki, Sukkar, and Naushehro Feroz, Bhakkar, Jhang, Shorkot, and Mianwali were also affected by floods.
Pakistan Government fixed the annual export target as $14 billion. With the production targets being spoiled by the current catastrophe, it has become impossible doing so. The country's textile sector will bear a burden of more than $900 million on the cotton imports from US, Brazil, and India. Export of cotton during 2009 August till 2010 July was 908, 100 bales while 320, 000 bales of cotton were imported during the same period. During 2010-11, Pakistan was expecting an increase of 2.5-3.0 million bales in production, over the previous year's production of 12.7 million bales. As per the declaration of Pakistan Cotton Ginners Association (PCGA), BT cotton variety sown in Sindh and Punjab were severely affected due to rain, and the resulting floods. Traders expect a relief package to cotton farmers and compensation for the ginners for losses incurred due to flood.
Spinning mills in Bangladesh have been eyeing for raw cotton imports from Pakistan, as their cotton is at the lowest in many seasons, and Pakistan cotton comes much earlier than other countries like US, India, and other Central Asian States. Exporters from Pakistan have earlier agreed for exporting 15-20 thousand bales of cotton to Bangladesh. Now they are worried about their shipments.
Estimates state that losses due to rain are marked about 1.5 million bales. There is also no guarantee that the remaining cotton in fields will have good quality. Pakistanis who import cotton are seeking to approach
cotton manufacturers from around the world. Textile made-up exporters and manufacturers are positively expecting to get cotton on easy terms. Industry analysts predict that, despite formal permission not being given, EU, and US might allow free access of textile products from Pakistan.
Villages, crops, cattle, and people, being washed away by the flooding waters, Pakistan is now facing unprecedented crisis. Improving the economic plight of the country has become imperative for the Government. Losses caused by floods have pushed spot rates and cotton sales. This has not only jeopardized the cotton crops, but also the national economy. Exporters are having their eyes fixed, to see if there are any better ways to enhance their business.
by: F2F Author
Enfrentando Las Crisis De Ansiedad Lockers For Storing Your Luggage Blue Bear Plush Guidelines When Searching For Colorado Movers Frequentar Academias Trazem Boa Aparência e Saúde The Increasing Use Of The Adjustable Beds And Bed Mattresses Adjustable Beds And Adjustable Bed Mattresses Cheap Silicone Wristbands Blueberry Feminised Seeds From Dutch Passion Kia Sorento and Hyundai Sonata & Santa Fe K&N Intakes Hemroids-What are they and how can You Cure Them? Explore The Wildlife And Historical Heritage Of Rajasthan Patio Umbrellas And How To Clean Them