Heavy monsoon rains and devastating floods across the cotton producing areas of Pakistan have damaged more than 1m local-sized cotton bales of 170kg each, worth around PKR34bn (US$387m).

Lower Sind cotton belt districts of Sanghar, Hyderabad, Nawabshah, Badin, and Mirpurkhas were severely affected, with around 1m acres of standing cotton crop affected.

While in the Punjab province the cotton crop of over 40,000 acres has been destroyed, according to Punjab Minister for Agriculture, Malik Ahmad Ali Aulakh.

Many cotton ginning plants have suspended their operations because of limited cotton deliveries from the farmers. Fears of cotton shortages has raised cotton lint prices by around 15% in a month to PKR7400 per maund of 37.32kg (US$2.28 per kg).

Pakistan is the fourth largest producer of cotton in the world and its textile and clothing industry is heavily dependent on the domestic availability of cotton. More than 80% of the country's textile and clothing exports are of cotton based products.