Cotton Imports Forecast a Record High in 2003/04
This month, USDA increased Pakistanís cotton import
forecast for MY 2003/04 by 350,000 bales to 1.9 million
bales, which would make Pakistan the third largest
cotton importer in the world. The 1.9 million bales
would be an all time record for Pakistan cotton imports,
and nearly double last yearís total.
The United States is a major cotton exporter to
Pakistan. From January to November 2003, the United
States exported more than 500,000 bales of cotton to
this country, making it the seventh largest market for
In recent years, Pakistan mill use has shown strong
growth mainly due to export-oriented textile industries.
Pakistan's textile and apparel industries have shown a
strong performance in the world market, and its cotton
yarn exports reached a record in December. According to
Pakistan's Federal Bureau of Statistics cotton fabric
exports in 2003 exceeded 2 billion square meters (2.24
billion square yards), showing a 0.2 percent growth over
a year ago. Both knitwear and bed wear exports, with
growth rates of 32.3 percent and 23.9 percent,
respectively, reached new records in 2003.
Pakistanís production has not kept pace with
consumption, fueling the need for more cotton imports.
Spinners are mostly interested in high-grade longer
staple cottons. Reports indicate that high-grade lots
are traded as high as 71.11 cents per pound for F.O.B.
gin yard. Approved by the World Agricultural Outlook