Islamabad October 3 2023: A milestone in Pakistan's cotton sector was reached as cotton arrivals for the year 2023 exceeded expectations, demonstrating remarkable growth in production.
Cotton arrivals as of September 30, 2023, soared to an impressive 5.0 million bales, representing an astounding 71% year-on-year growth.
This accomplishment is a testament to the resilience and dedication of Pakistan's farmers in overcoming the challenges posed by last year's devastating floods. Key Yield Figures:
- Pakistan: 5.0 million bales, reflecting a remarkable 71% year-on-year increase.
- Punjab: 2.1 million bales, registering a commendable 34% year-on-year growth.
- Sindh: 3.0 million bales, achieving an outstanding 113% year-on-year surge.
To recall, the cotton production sector faced a substantial setback last year, experiencing a 34% year-on-year decline due to the massive flooding that affected the country. However, this year's outstanding performance has not only surpassed the previous year's figures but also exceeded expectations.
Dr. Gohar Ejaz, Minister for Commerce, expressed his optimism for the cotton sector, stating, "Cotton arrivals crossing the 5 million bales mark on October 1, 2023, is a momentous achievement for Pakistan. Last year, our total crop was 5 million bales, and this year, we are anticipating a bumper crop of 12 million bales. This remarkable growth showcases the dedication and hard work of our farmers and the resilience of our cotton industry. The Ministry of Commerce remains committed to supporting and promoting the cotton sector in Pakistan, recognizing its indispensable role in the country's economic development and global competitiveness."
Related Posts
