Pakistan hopes for larger cotton harvest
An increase in cotton in Pakistan between 15 November and 1 December has raised hopes of a larger harvest of cotton for the country this season.
According to official figures, around 9.7 million bales reached ginneries up to 1 December, showing an increase of 15.5% in cotton production over the corresponding period of last year. Higher production of cotton in the Punjab helped to offset damages and losses caused by recent rains and floods in Sindh to standing cotton crops.
The International Cotton Advisory Committee said in a report that after jumping to record highs in 2010-11, cotton prices dropped sharply in the current season, reducing farmers’ income and decreasing for the first time in three years the attractiveness of this crop when compared to that of its main alternatives.
The report further stated that as a result, the committee projects global cotton area to contract in 2012-13 by 8% to 33.3 million hectares and production to decrease by 6% to 25.1 million tons.
