Cotton output set to hit record low.

KARACHI -- Continuing its consistent fall for the sixth year in row, the country's cotton output in the ongoing season is set to hit record low at 8.5 million bales.

Production data released by the Pakistan Cotton Ginners Association (PCGA) on Wednesday revAeAaled that the country is likely to face a shortfall of around 2.1m bales. Cotton analysts firmly believe that the total production to remain below the 9m mark.

PCGA Chairman Jawed Sohail Rehmani feared the current season would be the worst as initial estimates suggest that only 8.5m bales of cotton may be produced.

He added that cotton is a cash crop and backbone of the economy because around 65 per cent of the country's exports depend on this crop but lamented the government's lack of attention to the changing trend.

Sohail alleged that there is a sugar lobby within the government which protects its interests at the cost of cotton crop but there should be a realisation that sugar is consumed locally whereas cotton earns foreign exchange.

He demanded the government for removal of import duty on cotton until local stocks are picked up by textile spinning mills as ginners are still holding sizeable cotton inventory in anticipation of selling at higher prices.

Cotton analyst Amir Naseem said that as a result of this demand-supply gap, local consumers are likely to import around 6m bales putting a huge burden on the country's foreign exchange reserves.

The country's production has been on a declining trend after producing bumper crop of 14.86m bales in...