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Cotton arrivals plummet by 40% as on Dec 1

Cotton arrivals plummet by 40% as on Dec 1
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December 05, 2022 (MLN): Cotton arrivals at the ginneries have declined by 40.28% as the crop’s output has fallen to 4.28 million bales due delay in draining floodwater from fields compared to 7.16mn bales during the same period last year, fortnightly data released for the period ending November 30, 2022, showed on Thursday.

Both provinces, Sindh and Punjab recorded a significant decline in cotton production by 49.49% and 31.63% as their output stood at 1.76 and 2.5mn bales, respectively.

Going into details made available by the association, textile mills bought 3.56mn bales while exporters purchased 49,00 bales and the Trading Corporation of Pakistan (TCP) did not make any purchase during the review period. Around 585,284 cotton bales remained unsold.

Sanghar district of Sindh topped with a cotton arrival figure of 807,529 bales followed by the Bahawalnagar district of Punjab with 453,586 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.

In order to improve cotton output, the authorities have to speed up the process to drain floodwater from fields along with better infrastructure.

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Posted on: 2022-12-05T12:25:56+05:00

 

27.55% YoY

CPI for January stands