Cotton arrivals plummet by 41%

November 03, 2022 (MLN): Cotton arrivals at the ginneries have declined by 41% as the crop’s output has fallen to historic lows of 3.7 million bales due to heavy floods compared to 6.2mn bales during the same period last year, fortnightly data released for the period ending October 31 showed on Thursday.

Both provinces, Sindh and Punjab recorded a significant decline in cotton production by 50.77% and 29.40% as their output stood at 1.63 and 20.72mn bales, respectively.

Going into details made available by the association, textile mills bought 3.04mn bales while exporters purchased 49,000 bales and the Trading Corporation of Pakistan (TCP) did not make any purchase during the review period. Around 480,763 cotton bales remained unsold.

Sanghar district of Sindh topped with a cotton arrival figure of 795,447 bales followed by the Bahawalnagar district of Punjab with 375,048 bales.

According to Quantum Index of Large-Scale Manufacturing Industries (QIM) data, the production of cotton yarn stood at 288,055 metric tons in October 2021.

During July-August FY23, 576,200 metric tons of yarn were produced.

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