Cotton arrivals follow downward trajectory for fourth consecutive month

MG News | March 12, 2019 at 10:36 AM GMT+05:00

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March 12, 2019 (MLN): Around 10.7 million bales of cotton arrived at various ginneries all over Pakistan as of March 1, 2019. This quantity is short by 6.9% as compared to the corresponding period of last year, since last year 11.5 million bales of cotton had arrived.

As per the data released by Pakistan Cotton Ginners’ Association (PCGA), this is the fourth consecutive month depicting a YoY decline in cotton arrivals. The last year on year increase in cotton arrivals was seen in October 2018.

Based on the figures provided by PCGA, a total of 6.5 million bales (down, 9.7%) arrived at ginneries in Punjab, while around 4.1 million bales (down, 2.5%) arrived in Sindh.

The largest share of the lot was sold to the textile industry i.e. 9.4 million bales, whereas 102.3 thousand bales of cotton were sold to exporters. This lead to 1.18 million bales of unsold stock left as of March 1, 2019.

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