Cotton arrivals down 20.36pc

KARACHI: Cotton arrivals at the ginneries dropped 20 percent by March 15, according to the report released by the Pakistan Cotton Ginners Association (PCGA) on Wednesday.

Cotton arrivals in factories were recorded at 8.57 million bales, down 20.36 percent from 10.76 million bales last year. Of these, 58,666 bales were exported, down 42.67 percent, against 102,330 bales last year. This year, 8 million bales have been sold to mills, registering a fall of 16.93 percent against last year’s 9.64 million bales.

Currently, 503,458 bales are in stocks with the ginners, down 50.6 percent, compared with 1.01 million bales last year. Fortnightly flows (March 1-15) remained at 5,885 bales, down 78.73 percent, against flows of 27,671 bales during the same period last year.