Cotton arrivals up 10.3pc to 10.68mln bales

KARACHI: Ginneries across the country received around 10.68 million bales during the first fortnight of February, registering an increase of 10.30 percent against 9.68 million bales in the same period last year, Pakistan Cotton Ginners Association’s (PCGA) report said on Saturday. 

According  to the report, the biweekly (Feb 1-15)  flow of arrivals remained at 50,627 bales, which is well below 74,407 bales recorded during the corresponding period last year. 

Of the total arrivals, 6.89 million bales were received in Punjab, up 16.40 percent against 5.92 million bales last year, while Sindh recorded 3.78 million bales, compared to 3.75 million bales in the same period a year ago. 

A total of 9.72 million bales were sold to spinners and 202,356 bales to exporters, while 760,966 bales are lying unsold with the ginners. 

Traders say despite of an increase of 10.30 percent in the arrivals, country will have to buy more lint, as demand has increased to around 16 million bales after announcement of textile package for the mills.