Cotton arrivals reach 8.26m bales as of January 15

MG News | January 18, 2024 at 11:29 AM GMT+05:00

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January 18, 2024 (MLN): Cotton arrivals in Pakistan reached 8.258 million bales as of January 15, 2024, the latest data released by the Pakistan Cotton Ginners Association (PCGA) showed.

In comparison to the data previously released for December 31, in which the total arrivals were 8.171m bales, cotton arrivals have increased by 1.06%.

Similarly, on a year-on-year basis, arrivals have surged by 68.53% YoY compared to the 4.9m cotton arrivals recorded in the Same Period Last Year (SPLY).

The data made available by PCGA further showed that textile companies remained the dominant consumers as they bought 7.478m bales.

Meanwhile, exporters operating in the country bought around 292,000 cotton bales.

It is crucial to mention that currently, only 165 ginning mills are in operation.

Despite Pakistan being among the top ten cotton-producing countries in the world, with cotton and textile products ranking among the country’s major exports, the output still falls below expectations.

Copyright Mettis Link News

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