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Cotton stockpiling declines 37.6pc

Business

December 4, 2020

KARACHI: Cotton stockpiling in the factories of Pakistan declined 37.6 percent to 4.64 million bales by November 30, 2020, a report said on Thursday.

Pakistan Cotton Ginners Association (PCGA) report showed cotton stockpiling was down by 2.79 million bales at factories, down 37.6 percent from 7.44 million bales in same period last year.

Exports were down 10 percent as well, to 45,300 bales compared to 50,430 bales exported last year.

So far, mills have been sold 3.70 million bales, down 38 percent against last year’s 5.97 million bales.

Currently, 893,342 bales are in stock with ginners, down 37.2 percent, compared to 1.42 million bales stockpiled last year.

Fortnightly flows (November 15-30), however, remained up by 5.2 percent at 620,716 bales against flows of 590,026 million bales during the same period last year.

Punjab recorded arrivals of 2.63 million bales, down 36.4 percent, against arrivals of 4.14 million bales by the same period last year.

Arrivals from Sindh were down by 39 percent to 2.01 million bales against 3.30 million bales stockpiled in ginning factories by the same period last year.