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A farmer harvests cotton in his field. — Reuters/File
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Lahore: Contradictions for local cotton farmers are harsh: they are the least effective members of textile value chain. Despite the cheapest cotton in the global market, they are designed to make the lowest profit.
Despite the cheapest cotton in the global market, they are designed to make the lowest profit. The latest Karachi Cotton Association’s previous gene price is only 67.8 cents per pound (LB) or Rs 15,800 per mood. Local cotton is considered significantly less than a number of reasons, compared to cotton sales in international markets. China’s cotton is sold at 98.61 cents/pounds, which benefits Pakistan 29.98 cents/LB. India’s cotton is more than 83.4 cents/pounds or 14.77 cents Pakistan, and Brazil’s cotton is 4.3 cents/pounds as it is sold at 72.93 cents/pounds.
Only the New York Cotton Market prices are compared to the current former gene rates of Pakistan. This means that if the local farmers are much more deprived of better income opportunities than foreign farmers. Low profits are affecting their lives, making it difficult for them to invest in better farming methods and technology.
Farmers’ fellow Pakistan (FAP) said that this economic loss is creating a vicious cycle of low production capacity and income. Pakistani farmers are struggling to compete globally, and they have a lot of trouble in their economic status. The FAP argued that “it is time to ensure better prices for Pakistani cotton farmers in policies and intervention.”
“Unfortunately, no one is paying attention to the plight of local farmers,” according to FAP director Hassan Ali Chennaiu. The high cost of cotton production supports the story of the farmers who are struggling. They face significant losses due to policy failures.
Farmers are really getting equal prices of low dollars. He lamented that his profit margin was completely eliminated as he faced one of the highest cost of production in the world.
Chennaiu, one of the largest cotton in Sunda, belongs to Sanghar, was seemingly disturbing over the poor financial condition of cotton growers, which either emphasized the need to ban the import of cotton or at least 0.5 million bulls of cotton by Pakistan’s trade corporation.
He said that reasonable prices would help them achieve better economic stability and improve the stability of the cotton sector in the country and added that the government and stakeholders would have to work together to solve the problem and to promote the cotton farming community for the betterment of cotton.
The FAP leader said that local farmers, with their centuries -old knowledge and infinite labor, used to prepare cotton with such performance that it was the most cheapest in the global market. Nevertheless, “it seems that it punishes them a lot of performance, and closes them in a vicious cycle of low profits. As a raw material provider, they are truly an unusual heroes of textile value China, who provide the cheapest fiber, just to see others.”
The policy makers should not be ignored by their contribution, stressed that not only increases their income but also need immediate attention to help them reduce the cost of production. Otherwise, they warned, farmers will be forced to give up cotton cultivation for goods.
Meanwhile, it has been welcomed by stakeholders to taxing imported cotton, and has been termed as a major achievement for the local cotton and the textile industry. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Chairperson Malik Sohail Talat said the special committee for the restoration of the cotton industry said the move would ensure the level of playground for local cotton farmers.
“This SRO is not just a regulatory reform, but the full price of Pakistan’s cotton and textile industry is the victory of China,” he added, adding that the patron, led by the wisdom of Chief SM Tanveer, has led the SRO to strengthen the local resources and protect the future of our farmers. “
Veteran business tycoon Akbar Sheikh commented on the struggle of the textile sector. Due to the decline in local cotton production, the price of domestic cotton has been down to meet imported cotton. This problem has increased due to increasing production costs, as interest rates and energy prices are twice more than Pakistan’s rivals. As a result, the Sheikh concluded, the entire textile value chain is in danger.
