It is fortunate recent monsoon did a little damage to the standing cotton crop in Sindh and Punjab, experts said on Tuesday. Pakistan is expected to produce around 14.50 million bales of cotton during crop season 2013-14 by the end of season in April 2014.

The better cotton output would help textile export value addition exports to greater extent as country would get Generalised System of Preferences (GSP) plus status of exports to European Union (EU) nations by 40 percent and would generate significant economic activity in the country, said Ghulam Rabbani senior member of Pakistan Yarn Merchant Association.

Pakistan is in dire need of enhancing exports to provide some cushion to its sagging economy. The grant of GSP plus status was expected to provide strong impetus to the value-added exports, which has a 50 to 55 percent share in the total value of textile exports.

Cotton Outlook’s supply and demand estimates for the 2013-14 season indicate an addition to world stocks of 1,724,000 tonnes, in comparison to the 3,357,000 tonnes added during the current season. The global production forecast for 2013-14 stands at 25 million tonnes, displaying an increase to around 702,000 tonnes, owing principally to higher figures for China and the United States.

Consumption has been raised to 23,724,000 tonnes while production in the current 2012-13-season was now placed at 26.14 million tones while consumption has been raised to 23.724 million tonnes. Future outlook:

The global production of cotton will substantially support the global mill use consumption from 2012 through 2020. The share of production in the mill use will hover around 97.82 percent and 98.12 percent during the projection period. The demand to supply share will increase from 75.16 percent in 2012 to 86.75 percent in 2020.

The estimated global production of cotton in 2020 will reach to a level of 133.93 million bales from the current level of 116.90 million bales.

The total global supply will increase by around 45 million bales in 2020 from the current level of 223.79 million bales.

The estimated global demand for cotton in mill sector in 2020 will reach to a level of 131.01 million bales from the current level of 106.48 million bales. The total global exports will reach to the level of 44.71 million bales from the current level of 37.73 million bales. The projected figures up to 2020 provide instant support for business decisions. The report would provide significant cues to the prospects of the cotton in the world’s most important regions as well.