"Terrorist attack on WTC and Afghan war slowed
down the exports and foreign buyers were not inclined to open LCs until
the fear of Indo-Pak war is allayed," one exporter said.
Export sales, however, got impetus from February when
the Afghan war ended as the monthly figure rose from the previous
average of 5,000 bales (lowest being 1,994 in November, 2001) to 27,324
bales in February, 2002, although threat of war with India was there.
After producing a bumper crop of 10.6 million bales
and a sizeable carryover stocks the country was in a position to export
around 0.5 million bales. However, low world cotton prices coupled with
Sept 11 terrorist attack dampened the situation.
Up to July 15, 2002, a total of 0.247 million bales
have been registered by private sector exporters with EPB's export
registration cell. On the other hand there is a quantum jump in import
of raw cotton during current season (2001-2002). In total 1.05 million
bales have been imported between Sept 1, 2001, to May 5, 2002.
Figures given by collectorate of customs, Karachi,
0.975 million bales were imported through Karachi Port. Similarly, the
figures given by collectorate of customs Port Qasim a total 73,485 bales
were imported through PQA.
With huge world carryover stocks of around 43 million
bales the raw cotton prices are expected to stay depressed during coming
season. The highest stocks of around 9 million bales are held by China
followed by US at 6 million bales.
PAKISTAN EXPORTS 1.065M TONS OF MOLASSES
The country has exported around 1.065 million tons of
molasses up to June 30, 2002, fetching around $40 million, official
sources said on Monday.
With higher sugar production this season the country
is expected to produce around 1.758 million tons of molasses as against
1.6 million tons of last year (2000-01). However, around 1.6 million
tons of molasses would be available for exports this season as a balance
of around 0.2 million tons would be used by distilleries to produce