In a statement today, the federal minister of National Food Security and Research Syed Fakhar Imam has said that the total cotton arrivals as of 15 Oct are 5.208 million bales which are 94% higher than the arrivals on the same date last year. He said we are on course to meet or even exceed the revised target for this year of 9.3 million bales.
Arrivals in ginning factories in Sindh and Punjab are 99% and 87% higher than those of last year, respectively. The Minister advised farmers to pay close attention to clean picking practices to attain higher cotton grades so that they can obtain import parity price. He further advised farmers to keep a close eye on weather forecasts to timely adjust field operations to avoid losses. He warned market speculators to refrain from spreading rumours about production figures to create market instability. He reiterated that the government is all set for intervention if prices dropped below the policy price threshold.
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The Minster said that the government’s focus on cotton revival through input subsidies, provision of better quality seed with higher germination rates, and intervention price policy of Rs. 5,000/40kg, is bearing fruit. Higher cotton prices are significantly raising incomes of farmers.
He said that hard work of cotton farmers and conducive weather have helped with higher yields as well as production. Higher cotton production this year will considerably increase textile output and exports, edible oil from cotton seed, cotton cake for animal feed, and fuel wood for rural households. Income of cotton pickers, largely women, will also increase substantially. Higher cotton production this year, with its multiplier effect on the economy, will boost the GDP.
