Record cotton export in last FCY

KARACHI: Cotton export during the last fiscal year has made history despite on the whole a shortfall seen in Pakistan’s exports, Geo News reported.

Pakistan Cotton Ginners Association’s member, Ehsanul Huque told Geo News that a record 1.5 million bales of cotton were exported previous year that fetched $425 million in foreign exchange.

Pakistan also imported 1 million bales of cotton valued at $320 million from China, India and other countries.

Despite Sindh and Punjab heavy rains losses of crops estimated at 2.5 million bales of cotton in the previous fiscal year, Pakistan produced 14.80 million bales. Cotton production during the current fiscal year is expected to be over 15 million bales.