Cotton arrivals down 20 percent

KARACHI: Cotton arrivals in factories have declined by up to 20 percent till February 15. According to a report released by Pakistan Cotton Ginners Association (PCGA) on Tuesday, total arrivals were recorded at 8.54 million bales, down 20.12 percent compared with 10.70 million bales recorded during the same period last year.

During this period, 58,666 bales were sold to exporters against 0.1 million bales sold last year. A total of 7.79 million bales were sold to spinners, down 16 percent against 1.48 million bales sold to spinners during the same period last year. Meanwhile, unsold stocks with ginners remained at 694,717 bales, the PCGA data showed.