Pakistan: Cotton and Products Annual

Cotton production is forecast to rebound 36 percent to 5.3 million bales in 2023/24. After the flood damaged 2022/23 crop, yields should return to trend, while better returns from competing crops will limit area expansion. Following the sharp decline in cotton use and textile exports in 2022/23, a modest rebound in both is forecast for 2023/24. However, the increased domestic crop will limit expansion in cotton imports. Despite the many economic challenges facing the textile sector, cotton imports through the first 7 months of 2023/24 were up about 7 percent compared to the previous year. As a result, the 2022/23 import and use estimates are increased. Lack of foreign exchange to import raw material and machinery, currency fluctuation, and rising energy prices will continue to constrain the textile sector’s growth through 2024.