Page 22 - July/August 2019

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Supply up, prices down: Expectations for

2019/20 cotton demand are slumping

• Optimism for a surge in global cotton demand in economic expansion, have dimmed the hopes for
2019/20 is waning. next season’s cotton demand.
• Since August 2018, prices have dropped from 99.5
cents per pound to 74 cents in July. Cotton prices have been suffering from negative
• Production in 2019/20 is expected to reach 27.2 news since the market hit its season high of 99.5
million tonnes (up 6% from prior year), with cents per pound in August 2018, plummeting to 74
consumption increasing 1.7% to 26.9 million tonnes. cents per pound by July 2019. AD

Global cotton consumption is projected to increase At 5.9 million tonnes, China is expected to remain the
by 1.7% in the coming season, but if production
grows by the expected 6%, it will exceed production world’s largest producer in 2019/20, topping India’s
by about 300,000 tonnes. As a result, global stocks projected 5.75 million tonnes. West Africa,
should swell to 18 million tonnes. Those factors, meanwhile, is expected to see its production hit an
combined with tepid expectations for global all-time high of 1.3 million tonnes. (ICAC)

Exports of textile articles

surge 3.16pc in July

The textile sector in Pakistan has an overwhelming impact on the economy, contributing 57 percent to the
country’s exports. It is an obvious fact that textile sector businessmen / exporters play a crucial role for the uplift
of socio-economic development of the country through contributions. The exports of textile articles from the
country grew by 3.16 percent during the first month of current financial year 2019-20 as compared to the
corresponding month of last year.

During the month of July 2019, the export of textile and its articles was recorded at $1233.636 million as against
$1195.820 million exports recorded during the same month of last year, showing growth of 3.16 percent,
according to the data issued by the State Bank of Pakistan.

July/August 2019