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LAHORE: In an unprecedented development in Pakistan’s history, local textile mills have begun massive cotton imports from the United States even before the start of the new cotton ginning season, as the country has virtually run out of cotton stocks, triggering a sharp surge in domestic cotton and phutti prices.
Reports suggest that local textile mills have purchased an extraordinary 206,100 bales – around 95pc– of the total 216,000 bales of the US 2026-27 cotton crop sold during the past week. The millers are also importing cotton on a large scale from Brazil.
During fiscal year 2026-27, the country may spend billions of dollars in foreign exchange on the import of cotton and edible oil, potentially the highest import bill in the country’s history for these commodities.
Despite repeated announcements regarding cotton revival, the approval of another sugar mill in Rahim Yar Khan, Pakistan’s largest cotton-producing zone, is undermining efforts to restore cotton cultivation.
