Cotton arrivals reach 2.36mln bales

KARACHI: Pakistan has recorded cotton arrivals of 2.36 million bales as of September 18, 2017, the first fortnightly report of the season issued by the Pakistan Cotton Ginners Association (PCGA) said on Monday.

During this period, no data was recorded last year. “This year early crop has shown higher production, which shows there will be an overall increase in the crop,” Naseem Usman, chairman Karachi Cotton Brokers Association said.

Out of the total arrivals, 1.51 million bales arrived from Sindh and 0.84 million bales from Punjab. A total of 77,257 bales were sold to exporters and 1.15 million bales to spinners while 43,086 bales remain unsold thus far. A total of 574 ginning factories have commenced their operations.

Naseem Usman said no arrival report was issued for September 15 last year because of Eid holidays. However, PCGA report was issued for September 30, 2016 showing the arrival of 2.64 million bales. This year, the PCGA expects 3.2 million bales to arrive by September 30, he said, above 0.6 million by the end of this month.