The exporters in Pakistan have halted yarn sales as the falling dollar prices have led to higher availability of the raw material at cheaper rates in the domestic market, says a report by the Global Village Space.

Reports suggest that against annual predicted consumption of minimum 12 million bales, the Ministry of National Food Security and Research expects only 7.7 million bales production this year. However, cotton ginners have given the lowest production estimates of only 5.5 million bales for this year.

According to the Pakistan Bureau of Statistics, Pakistan has imported around 688,305 metric tonns of cotton and yarn while there is a minimum shortfall of six million bales. A gap of about 3.5 million bales is present that the government would need to fill through imports.

Due to the rising decline in cotton production, users were forced to import from United States, Brazil and Uzbekistan. Imports from India, however, would be much cheaper and would arrive in Pakistan in three to four days.