Friday, September 29, 2023

Cotton arrivals in factories fall 34pc

KARACHI: Cotton arrivals in the factories of Pakistan have dropped 2.76 million bales, or 34 percent, by December 31, a report issued by the Pakistan Cotton Ginners Association (PCGA) said on Monday.

Cotton arrivals in ginneries were recorded at 5.37 million bales, down 34 percent from 8.13 million bales during the corresponding period last year.

Of these arrivals, 70,200 bales were exported, up 28.5 percent, against 54,630 bales last year.

By this time, 4.6 million bales have been sold to mills, down 34 percent against 6.98 million bales last year.

Currently, 695,614 bales are in stocks with the ginners, down 36.6 percent, compared with 1.09 million bales last year.

Fortnightly flows (December 15 to 31); however, rose 12.5 percent at 313,129 bales against the flows of 278,288 bales during the same period of the last year, the report said.

Punjab recorded arrivals of 3.25 million bales, down 30.58 percent, against the arrivals of 4.69 million bales by the same period last year.

Arrivals from Sindh went down 38.7 percent to 2.11 million bales against 3.44 million bales arrived in the ginning factories during the correspondent period last year, it added.

Source: The News

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