Cotton output jumps 70% as of Nov 15

November 18, 2021 (MLN): The country’s cotton production surged by a whopping 70% YoY to 6.852 million bales up to November 15, 2021, as opposed to 4.027m bales produced in the same period of last year, the Pakistan Cotton Ginners Association (PCGA) said in its fortnightly report released on Thursday.

This significant increase was the result of the hard work of cotton growers and favorable weather conditions that helped achieve higher yields.

Further, this recent cotton arrival casts positive overtures on the cotton production outlook where the current production target is set at 9.74mn bales for FY22.

These rising yields might lead to higher textile production and exports. It is prudent to mention that Pakistan’s textile exports reached $6.02 billion during July-October FY 2021-22, depicting a yearly growth of 26.55% on the back of strong demand for Pakistan’s textiles in the global market.

Going into details made available by association, textile mills have so far purchased 6.22m bales while 16.4 thousand bales sold to exporters.

Both provinces, Sindh and Punjab recorded a substantial increase in cotton production wherein the former one took a lead.

As of Nov 15, cotton production in Sindh rose by 83% YoY to 3.439m bales while in Punjab, the production was recorded at 3.413m bales, up by 59% compared to the corresponding period last year.

Copyright Mettis Link News