Total cotton arrivals in the first half of this month have fallen by 64 per cent to 1.434m bales, compared with 3.933m bales in the same period last year. Six districts in Punjab reported zero cotton arrivals, an unprecedented drop in production. According to the PCGA report, no region saw an increase in cotton arrivals.
The 64% drop in cotton arrivals at the glint stage has shocked the export-oriented textile industry, which now faces the prospect of importing $5 billion worth of cotton and yarn in FY2025 to maintain current export levels.
Due to domestic cotton shortages and high electricity costs, textile exports are unlikely to exceed the $16.65 billion in FY2024. The textile sector accounted for 54.29% of the country's total exports, which amounted to $30.676 billion in FY2024.
(Source: Zhejiang Council for the Promotion of International Trade)