Cotton arrivals fall short by 7.3% YoY, as of Nov 15

November 23, 2018 (MLN): Arrival of cotton at various ginneries all over the country, has fallen short of the 9.4 million bales that arrived last year, as it totaled to a sum of 8.7 million bales as of November 15, 2018, down by 7.3%.

Of these 8.7 million bales, around 5 million bales arrived at the ginneries located in the province of Punjab, while 3.7 million bales of cotton arrived in Sindh.

Cotton arrival in Punjab has fallen short by 10% over corresponding period of last year, while that in Sindh has fallen short by over 3%.

All Pakistan Cotton Ginner’s Association’s data shows that, 6.6 million of the total arrival was sold to the textile sector while only 91.4 thousand bales were sold to exporters, due to internationally lowered cotton prices, which weighed down the global demand for its exports. Last year’s cotton sale to exporters, had logged in at 207 thousand bales.

Overall, more than 1 million bales of cotton remained unsold during the period.

Copyright Mettis Link News

Posted on: 2018-11-23T10:44:00+05:00