Page 10 - January-February-2018

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Global production gains from

increased planted area: ICAC

Consumption has been greater than production for continues to increase and could represent GSP+ to be
the past two seasons. While both consumption and approximately 36% of global share or 2.95 million
production are experiencing growth since the tons. The USA will continue to lead all exporters in
2015/16 season, global production is increasing at 2017/18 with 39% of the global share and 3.2 million
a faster rate. Current estimates for the season have tons. Australian exports in 2017/18 are projected to
production at 25.5 million tons and consumption at continue growing reaching 944,000 tons and maintained
25.4 million tons. Production increases are coming accounting for 11.4% of global share. India, despite
off the gains in planted area rather than yields this a lower than expected production is projected to
season. Global average yield for 2017/18 is export 935,000 tons representing 11.3% of
currently being estimated at 773 kilograms per global exports. for Pakistan
hectare, a 1% decrease from the previous season
with a 12% growth in planted area. India and In 2017/18, world ending stocks are estimated at
Pakistan, with estimated area increases of 16% and 18.9 million tons, slightly higher than the 18.7 million
24% respectively, encountered production losses tons for the previous season. The Cotlook A index
from pink bollworm this season. during January 2018 averaged 91 cents per pound
with a 2017/18 season to date average of 82.4
Global trade is projected at 8.2 million tons this cents per pound. Competing price of polyester has
season. Leading importers include Bangladesh and risen over the course of the season and continues
China with an estimated 19% and 16% of global to increase relative to cotton, even as cotton prices
share respectively. East Asia’s volume of imports have moved upward.

Member European Parliament Sajad Karim, has country over the past two years in relation to the EU’s
expressed his belief that Pakistan was on the right beneficial trade scheme.
course towards maintaining its GSP+ trade status.
MEP Dr Karim, who is Chairman of the South Asia Speaking in Brussels, Dr Karim said “Last week’s
Trade Monitoring Committee within the European report on the current state-of-play of GSP+ in
Pakistan demonstrated the progress being made by
Parliament, specifically convened the meeting to
US retail imports expected to grow hear from the visiting Pakistani delegation, where Pakistan within the criteria set by the trade scheme,
albeit with areas of improvement still needed. “That
they gave evidence on the country’s current
4.9% in 2018 state-of-play of GSP+ implementation, which is why I was pleased to welcome the delegation to
included Defence Minister, Khurram Dastgir Khan.
the European Parliament today so soon after the
publication of the Commission report and for the
Imports at major US retail container ports may grow by 4.9 per cent during 2018 first half over the same period The group also consisted of various other evidence they gave to the Committee which will prove
last year, according to the monthly Global Port Tracker report released recently by the National Retail Federation high-ranking members, including Senator Syed Shibli ever useful in regard to our trade relationship. “I am
(NRF) and Hackett Associates. The 2018 retail sales will grow at 3.8-4.4 per cent over 2017’s $3.53 trillion, NRF Faraz, Chairman of the Senate Standing Committee confident that Pakistan is on the right trajectory towards
had earlier said. on Commerce and Textiles, Siraj Muhammad Khan maintaining their GSP+ status, but in order to do so
MNA, Chairman of the National Assembly’s Standing they must continue to meet the targets set by the EU
Cargo volume does not correlate directly with sales because only the number of containers is counted, not the Committee on Commerce and Textiles and Fehmida that come as being a part of the scheme,” he added.
value of the cargo inside, but offers a barometer of retailers’ expectations. Mirza MNA, Former Speaker/Member of Pakistan EU
Parliamentary Friendship Group. Dr Karim was instrumental in Pakistan gaining its
“We’re forecasting significant sales growth this year and that means retailers will have to import more coveted GSP+ trade status and in 2015 was
merchandise to meet consumer demand,” an NRF press release quoted vice president for supply chain and According to a report received from Brussels, the awarded the Sitara-i-Quaid-i-Azam – the highest
customs policy Jonathan Gold as saying. meeting – which took place with the Pakistan-EU national honour to non-Pakistanis for services that
Parliamentary Friendship Group on EU-Pakistan have helped the country – joining ranks with the
Ports surveyed handled 1.72 million twenty-foot equivalent units (TEU) in December. The total for 2017 was 20.5 trade and investment relations – follows the British Queen and Nelson Mandela. He also Chairs
million TEU, topping 2016’s record of 19.1 million TEU by 7.6 per cent. publication of a European Commission report last the Friends of Pakistan Group within the European
Friday demonstrating the progress made by the Parliament.

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