Cotton arrivals up 54pc

KARACHI: Cotton arrivals in the country soared by 54 percent by November 30, 2021, traders said.

According to fortnightly cotton arrival report of the Pakistan Cotton Ginner's Association (PCGA), cotton arrivals recorded at 7.16 million bales, higher by 2.52 million bales against the last year’s arrivals of 4.64 million bales by the same time.

Out of arrivals, only 16,000 bales were exported against 45,300 bales of the previous year, recording a decline of 64.68 percent. Around 6.67 million bales were sold to the mills, higher by 2.96 million bales, compared with 3.70 million bales of the last year.

Fortnightly flow remained at 315,295 million bales, down by 47.69 percent to the last year’s fortnightly arrivals of 602,716 million bales.

By November 30, cotton arrivals in Sindh reached 3.48 million bales, higher by 73.28 percent to the last year's data of 2.01 million bales by the same time. Punjab witnessed a crop arrival of 3.67 million bales, up by 39.65 percent against 2.63 million bales arrived by the same time last year.