KARACHI: Cotton arrivals in ginning factories fell 27 percent to 2.93 million bales till September 30 as pest attacks adversely affected production of the industrial crop, industry’s data showed on Thursday.
According to the latest figures issued by Pakistan Cotton Ginners Association (PCGA), cotton production recorded a steep fall of 1.087m bales. The country produced 2.933m bales as against 4.020m bales in the same period last year. As a result of this shortfall, cotton prices in the domestic market are presently being quoted highest in the world.
Of total, 2.29m bales were sold to textile mills and 34,597 bales to exporters, while 636,472 bales remained unsold. This year’s fortnightly flow (September 16-30) was recorded at 1.08m bales as against 1.50m bales arrived in the ginning factories during the corresponding period last year, PCGA said.
Cotton production in Punjab declined by up to 35.87 percent on producing 1.165m bales as against 1.818m bales produced in the corresponding period last year. This means that the province has produced 0.652m less bales.
Similarly, Sindh province recorded a fall of 19.74 percent in cotton production and produced 1.767m bales compared to 2.202m bales produced in the same period last year. As a result 0.435m less cotton bales have been produced.
PCGA chairman Sohail Javed Rehmani said presently the entire cotton economy is under distress and this could be verified from the fact that much smaller number of ginning units are presently operating. In total 581 ginning units are operating as against 777 units last year.