Cotton arrivals reach 7.38mln bales

KARACHI: Cotton arrivals in the country by January 15 reached at 7.38 million bales with an increase of 34.42 percent, traders said.

According to the fortnightly cotton arrival report of the Pakistan Cotton Ginners Association (PCGA) Tuesday, cotton arrivals recorded at 7.38 million bales, higher by 1.89 million bales against last year’s arrivals of 5.49 million bales by the same time.

Out of arrivals, only 16,000 bales were exported against 70,200 bales of the previous year, recording a decline of 77.21 percent. Around 7.12 million bales were sold to the mills, higher by 2.28 million bales, compared with 4.83 million bales of the last year.

Fortnightly flow remained at 36,636 million bales, down by 70.11 percent to last year’s fortnightly arrivals of 122,585 million bales.

By January 15, cotton arrivals in Sindh reached 3.51 million bales, higher by 65.05 percent to last year's data of 2.12 million bales by the same time. Punjab witnessed a crop arrival of 3.87 million bales, up by 15.07 percent against 3.36 million bales arrived by the same time last year.