More than 3.7 million bales of cotton are reaching factories – markets.
MULTAN: Over 3.7 million or exactly 37,07693 bales of seed cotton (striped) have reached the ginning factories across the country till November 1, 2022, with a decrease of 40.74% compared to the same period last year.
According to a fortnightly report of the Pakistan Cotton Ginners Association (PCGA) released on Thursday, 3.5 million or 3,521,792 bales have gone through the ginning process i.e. converted into bales. Cotton arrivals in Punjab recorded more than 20 lakhs or 2,072,293 bales which was a decrease of 29.40% compared to the same period last year when arrivals were recorded at 2,935,119 bales.
Sindh produced 1.6 million or 1,635,400 bales, which is a decrease of 50.77% compared to the corresponding period of last year when the arrival of 33,21,900 bales was recorded.
Cotton arrivals have declined by 24% year-on-year due to devastating floods.
Textile mills bought 3,036,129 bales while exporters bought 4,900 bales and Trading Corporation of Pakistan (TCP) did not buy during the cotton season 2022-23.
Sindh’s Sanghar district tops the list of cotton arrivals with 795,447 bales followed by Bahawalnagar district of Punjab with 375,048 bales.
A total of 609 ginning factories are functioning in the country.
Unsold stock of exactly 666,664 bales of cotton was available in ginning factories.