All Pakistan Textile Mills Associations (APTMA) had already requested the government to immediately announce a cotton support price of Rs 8,000 per phutti mound for the coming season. Given the government’s perspective under the current circumstances, APTMA urges the government to announce at least Rs 7,000 per MSP mound of phutti for the coming season which will not only improve yields but also the area sown, resulting in a projected increase of 5 million bales. in cotton production.
A delay in announcing the minimum support price (MSP) for cotton for 2022-23 will lead to a significant loss in cotton production which will again lead to the import of cotton worth billions of dollars.
Currently, wheat is being harvested in the country and the cotton planting season is at its peak, but farmers are looking for the MSP to plan their area for cotton cultivation, as there are many other crops that can be sown at the same time having more profitability in the past than the cultivation of cotton.
Last year farmers received a very good price on cotton from the textile sector which was around 6100/mound which is maximum profit unlike other crops like sugar cane, rice and but.
Read more: APTMA urges government. to announce Rs. 8000 per maund as support price for cotton
Farmers who have switched to other crops such as sugar cane, rice and maize will see their profits increase and regain confidence thanks to the minimum support price. Last year, the MSP was also announced, but the government was slow to reveal the price, which came towards the end of the planting season.
APTMA Cotton Foundation strives to revive cotton by introducing innovative technologies in seed development, certified approval systems for seed production, keeping farmers well informed, initiating training programs and providing policy recommendations to government. pic.twitter.com/4EcQSHHFFh
– Pakistan Textile Mills Association (@APTMAofficial) February 15, 2022
Cotton yield per acre increased by 33.5% from 433 kg/hectare to 652 kg/hectare in the 2021/22 planting season as farmers took precautionary measures amid the expected price hike cotton.
Pakistan loses at least $5 billion directly from low cotton production. An increase in cotton production will have a direct impact of $1 billion per 1 million bales and a 7 times multiplier effect on fiscal flows in the economy. Cotton provides livelihoods and jobs to millions of poor families and distributes cash to poor rural people, especially women, and the reduction in acreage and productivity has an extremely negative impact on the poverty.
Read more: APTMA calls for immediate action to save the textile industry