Pakistan: Cotton Import May Cost US $1 Billion in 2009

Due to the widening demand and supply gap and quality issues, Pakistan may have to import 4.5 million bales cotton this season. Imported cotton will cost the country an estimated one billion US dollars. According to a report by the Business Recorder, the government’s production target of 14.2 million bales is difficult to achieve due to less than target sowing of uncertified Bacillus thuringiensis (Bt) cotton varieties.

To increase their cotton production, growers from the states of Sindh and Punjab cultivated Bt cotton on 80 percent of the growing area this planting season. Despite this, importers expect 3-4 million cotton bales shortfall since the government has fixed cotton production target of 14.2 million bales against the consumption of 16-16.5 million bales. Last year about 1.291 billion dollars were spent on cotton import as compared to 646.568 million dollars during fiscal year 2007, depicting an increased of 644 million dollars.

The article is available at http://www.pabic.com.pk/6%20August,%202008.html