KARACHI, November 04 2024: At the end of October 31, 2024, Pakistan’s cotton arrivals had significantly declined, dropping 37% year-over-year to 4.3 million bales, down from 6.8 million bales during the same period last year. This decline, which improved slightly from a 48% decrease noted earlier in the month, is primarily attributed to poor farmer economics and delays in planting the cotton crop.
In FY24, Pakistan imported 205,000 tons (approximately 1.2 million bales) of cotton at USD 448 million. However, projections for FY25 indicate a sharp rise in import needs, with local production expected to reach only 6 million bales. Importing around 5.4 million bales will be necessary to meet domestic demand.
The anticipated cotton import bill for FY25 is set to reach USD 1.9 billion, representing a staggering 3.9-fold increase compared to last year’s figure. This dramatic rise highlights the challenges facing the agricultural sector in Pakistan, with implications for both local farmers and the overall economy.
As the country grapples with these issues, addressing the factors behind declining cotton production will be critical to stabilizing the market and reducing reliance on imports.
