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PCGA calls for TCP intervention to purchase 1m bales

PCGA calls for TCP intervention to purchase 1m bales
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December 05, 2023 (MLN): In an effort to foster positivity across the entire cotton belt, Chaudhry Waheed Arshad, Chairman of the Pakistan Cotton Ginners Association (PCGA) has urged the Trading Corporation of Pakistan (TCP) to intervene by procuring one million bales of cotton.

He believes that such a move would encourage farmers to do more to reach a bigger cotton production figure next year.

Talking to APP on Monday by phone, the PCGA chairman said that cotton arrival figures of over 7.7 million bales released Sunday last in PCGA's fortnightly report showed over 81 percent increase in arrivals indicating bigger production expected in 2023 compared to last year.

He, however, added that Pakistan had once surpassed 14m bales mark but its potential goes far beyond this level.

This potential, he said can be realized provided farmers' interests are protected to the maximum and steps like procurement by TCP and availability of agriculture inputs like quality seed and fertilizers at low price become a regular feature in cotton season every year.

The Chairman PCGA said that cotton production this year was going to be far better than the previous year and it could do wonders next year if TCP intervenes in the market and continues to make its presence felt in the years to come.

Meanwhile, the recent PCGA fortnightly report put the total arrival figure at 7.753m bales including over four million bales from Sindh and 3.736m bales from Punjab, he expressed.

Out of the total, he said 7.53m bales have been pressed into bales. He said the exporters have bought 290,626 bales, adding that textile mills continued to maintain their position as the major buyer with procurement figures of over 6.755m bales.

Punjab showed a percentage increase of over 48% while in Sindh the surge in arrivals recorded at 127 percent compared to last year giving an average increase of 81.13%.

He said that exactly, 706,942 were lying with ginners as unsold stock. A total of 415 grinning factories are operational in the country including 129 in Sindh and 286 in Punjab, he added.

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Posted on: 2023-12-05T09:43:46+05:00