Pakistan's cotton imports are on the rise. One reason is expectations of a lower domestic cotton production this year. Also, since Pakistan’s textile industry has had access to European Union market, domestic consumption of the fiber has risen by 6.8 per cent. The government plans to prioritise energy supplies for industries like the textile sector, a step that bodes well for cotton consumption.

Demand for the cotton is increasing considerably in many countries as China’s purchases wane. This, despite a crash in crude market, which has led to the lowering of oil-based fiber prices such as polyester. Pakistan cotton consumption in 2015-16 would be the highest since 2007-08. Pakistan’s cotton buy-ins will jump by 150 per cent next season. Pakistan’s cotton imports are likely to be two million bales in 2015-2016, the highest in eight years.

Turkey’s cotton imports are growing by 19.5 per cent and Egypt’s imports by 29 per cent, fuelled by improved demand. For Vietnam, cotton imports are forecast to rise by 10 per cent though that represents a slowdown for a country whose demand growth has bucked the stagnant world trend.

Reforms in China’s subsidy regime have slashed the country’s imports and encouraged lower cotton prices.