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Cotton sowing in Punjab

shows growth

Across the crop producing areas of the country the as compared to the area under cotton crop
cotton crop sowing registered over one percent cultivation during the same period last year.
increase as compared to the cultivation of
corresponding period of last season since it had Overall cotton sowing in Punjab registered 11%
been sown over 2.69 million hectares of land. In growth and cultivated 2.29 million hectares of land
order to produce 14 million cotton bales during the against target of 2.31 million hectares but crop
crop season 2018-19, cotton sowing targets were sowing in Sindh decreased by 40%. Khyber
fixed at 2.95 million hectares. The crop cultivation Pakhtunkhwa and Balochistan were assigned to
targets were achieved by 91% as it went up by 1% cultivate crop over 0.1 million hectares.

Egypt’s cotton exports up 37% as Clothing sales in US

crop quality improves surge by 1.3%

Egyptian cotton production is in recovery due to devalued pound and bigger cultivation area after the drop in
quality in 2011. Cotton exports are expected to reach approx. 52000 tons from 2017-18 season that ends in
August which is a growth of 37% as compared to last year.
May retail sales in US have seen an increase of 0.7% spending. We have seen ongoing momentum over
Projected export growth is estimated to be 40-45% by exporting 75000 tons and expected cotton production is because of a rise in sales of clothing retailers. the last several months and believe sales growth
expected to be 120,000 tons. Clothing and clothing accessory store sales have should remain healthy and consistent with our 2018
seen an increase of 1.3% from April whereas it was outlook. Nonetheless, inflation and rising oil prices
To ensure the Egyptian product quality strict rules and standards have been imposed since 2016. The Egypt 8.3% year over year. are complicating the picture. And new tariffs or a
Agricultural Ministry has boosted the cultivation area for export growth. 336,000 feddans of long staple cotton trade war would certainly be negatives that
has been planted by Egypt in 2018. Cotton cultivation can be expanded if the authorities push growers to NRF’s numbers said overall May sales which include would increase prices and reduce both
avoid water intensive crops such as rice. automobiles, restaurants and gasoline were up by consumer purchasing power and consumer
0.8% seasonally adjusted from April and up 5.9% confidence.”
year-over-year. The increase in sales was due to
consumers continuing to spend prompted by a During the month, online and other non-store sales
growing economy. were up 9.1 per cent year-over-year and up 0.1 per
cent over April seasonally adjusted. However,
Mr Jack Kleinhenz, NRF chief economist said, “The sporting goods sales have decreased by 0.5% and
economy is looking strong and households have a over the year 0.1%. NRF 2018 forecast of growth in
solid financial foundation on which to base their retail sales between 3.8% – 4.4% over 2017.

May/June 2018 May/June 2018