Business

Cotton supply drops by 23 per cent

Cotton production in the country has declined showing a decrease of 22.95 per cent over last year.

Ppi September 04, 2010 Less than a minute read

MULTAN: Cotton production in the country has declined as arrivals at ginneries as on September 1 stood at 995,191 bales, showing a decrease of 22.95 per cent over the corresponding period of last year when ginning mills received 1.29 million bales.

According to the Pakistan Cotton Ginners Association’s (PCGA) fortnightly report, Punjab, the major cotton producing province, contributed 488,548 bales while Sindh’s share was 506,643 bales. Supply from Balochistan has not yet started. The arrivals recorded so far are the lowest for the country.

The PCGA said recent floods in Sindh and Punjab have destroyed two million bales of cotton. To cope with the shortfall, PCGA Chairman Haji Muhammad Akram urged the government to announce a relief and bailout package for cotton ginners of flood-hit areas and conduct a survey of these areas.

According to the report, the ginners had pressed 886,428 bales.

The Trading Corporation of Pakistan had purchased nothing and commercial exporters exported only 200 bales which were purchased from Hyderabad.

The textile industry purchased 846,562 bales and 39,666 bales were available with ginners as unsold stock.

Published in The Express Tribune, September 4^th, 2010.