November 13, 2019: Exports of raw cotton from the country during the first quarter of the current financial year increased by 53.65% as compared to the exports of the corresponding period of last year.
During the period from July-September, 2-19-20, about 6,980 metric tons of raw cotton worth $10.828 million exported as compared the exports of 4,619 metric tons valuing $7.043 million of the same period of last year, according to the data of Pakistan Bureau of Statistics.
However, the exports of cotton yarn and cotton cloth decreased by 6.19% and 5.60% respectively and was recorded at $294.280 million and 499.419 million during the period under review.
On the other hand, over 6.097 million cotton bales had arrived in the local markets by the first week of current months as against the arrival of 7.706 million bales of the corresponding period of last year.
The cotton arrival in the local markets decreased by 20.88% as compared to the arrival of the corresponding period of last year, according to the consolidated data statement of cotton arrivals in factories, issued by Pakistan Cotton Ginner's Association.
Out of the total arrived cotton bales, about 4.467 million bales were sold as against the selling of 5.80 million bales during the same period of last year, whereas unsold stocks were recorded at 596,447 bales by the start of the current month as against 793,598 bales of the same period of last year, it added.
Out of the total arrived cotton bales, 4.425 million bales were sold to local textile mills as compared to the selling of 5.720 million bales of the same period of last year.