9.2mn cotton bales reach ginneries

MULTAN: As many as 9.2 million seed cotton (phutti) bales reached ginneries across Pakistan as it was less than 33 percent compared to the same period of last year.

A total of 9,279,105 cotton bales reached ginneries till January 1, 2016 which is less than 33.52 percent compare to last year, said a fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) on Sunday.

Trading Corporation of Pakistan (TCP) has not started purchase of cotton so far while the TCP had purchased 57,600 bales from Punjab and 35,100 bales from Sindh during same period of last year.

Exporters have bought 355,426 bales while textile sector purchased 7,271,473 bales, the report said.

While 1,652,206 bales unsold with the ginneries till January 1, 2016.