Cotton exports reach 145,886 bales in October

ISLAMABAD: The country exported around 145,886 cotton bales during the first week of the current month compared to 67,391 bales sold overseas in the same period last year, data released by the Pakistan Cotton Ginners Association (PCGA) showed on Tuesday.

“Cotton arrivals in the first week of October registered an increase of around 50.88 percent compared to the crop received by the markets during the corresponding period last year,” the Pakistan Cotton Ginners Association said in its report.

“Around 3,991,247 cotton bales arrived in the local market for ginning as well as for exports compared to 2,645,349 bales recorded in the same period last year.”

The ginning body reported that about 1,678,576 cotton bales arrived from Punjab, up by 112.83 percent compared to 788,699 bales arrived in the same month last year.

“Cotton arrivals from Sindh also registered an increase of 24.56 percent as about 2,312,671 cotton bales reached markets compared to 1,856,650 bales in the same period last year,” it added.

The report added that out of the total arrived crop, over 3,105,925 cotton bales were sold. “Around 145,886 bales have so far been exported and 2,960,036 bales sold to local textile sector,” the report said.

According to the consolidated statement of the cotton arrival in local factories of the country prepared by Pakistan Cotton Ginners Association, the quantum of unsold commodity was recorded at 245,925 bales, where as 639,349 bales remained unginned.