January 3, 2019 (MLN): All Pakistan Cotton Ginners’ Association (PCGA) has recounted in its bi-monthly report that as of January 1, 2019, a total of 10.3 million bales of cotton have arrived at various cotton ginneries across Pakistan, marking a decline of around 7.5% over last year’s total for the corresponding month.
January 2019 marks the third consecutive month in which cotton arrivals have fallen short of the previous month’s supply.
Around 4.1 million bales of total arrivals arrived at ginneries in Sindh, whereas the remaining, bigger portion of 6.2 million bales of cotton landed in the province of Punjab.
Cotton arrivals in both the provinces observed decline from last year. Ginneries in Punjab received 10.6% lesser cotton while those in Sindh received 2.4% lesser quantity.
According to the data collected by PCGA, All Pakistan Textile Mills Association (APTMA) and Karachi Cotton Association (KCA), 100.8 thousand bales of the total arrival was sold to the exporters, whereas 8.4 million bales were sold to the textile sector.
This has left a total stock of 1.5 million bales of unsold cotton.
Copyright Mettis Link News