March 04, 2024 (MLN): Cotton arrivals in Pakistan reached 8.39 million bales as of March 01, 2024, marking a shortfall of approximately 32% compared to the season's target, as per the latest data released by the Pakistan Cotton Ginners Association (PCGA).
In comparison to the data for February 15, in which the total arrivals were 8.38m bales, cotton arrivals have inched up by 0.11%.
However, on a year-on-year basis, arrivals have surged by 72.16% YoY compared to the 4.88m arrivals recorded in the Same Period Last Year (SPLY).
According to the breakup of the data, cotton arrivals from Sindh province have dropped by 15.6% YoY compared to the data from March 01, reaching 4.11m bales.
Meanwhile, cotton arrivals from Punjab province, another key cotton-producing region, increased by 42.79% YoY to 4.28m bales.
Compared to the previous fortnight's data, arrivals through Sindh and Punjab have inched up by 0.03% and 0.32% respectively, during the review period.
According to Ahsanullhaq, chairman of the Cotton Ginners forum, Textile mills are going through a difficult phase, including closures, primarily due to the record-high electricity tariffs.
Pakistan is among the top ten cotton-producing countries in the world, and cotton and textile products are among the country’s major exports. However, output still stands below expectations.
