LAHORE: Pakistan Cotton Ginners Association (PCGA) has released cotton production data up to July 31, which shows that more than eight lac and forty four thousand bales were produced in the country.
The report shows a decrease of more than five lac and eighty four thousand bales (40.90%) as compared to more than fourteen lac and twenty nine thousand bales produced during the same period last year.
In Punjab, cotton production stood at more than two lac and ninety two thousand bales, a decrease of 96,013 bales (24.71%) compared to last year’s production of more than three lac and eighty eight thousand bales.
In Sindh, cotton production was more than five lac and fifty one thousand bales shows a decrease of more than four lac and eight thousand bales (46.96%) compared to last year’s production of more than ten lac and forty thousand bales.
During this period, exporters purchased 400 bales, a decrease of 7,100 bales (94.67%) compared to last year’s 7,500 bales.
Textile mills purchased more than seven lac and forty thousand bales shows a decrease of more than five lac and forty thousand bales (42.09%) compared to last year’s more than twelve lac and eighty four thousand bales.
Ginners have a stock of 99,774 bales, a decrease of 36,545 bales (26.81%) compared to last year’s more than 9 lac and thirty six thousand bales.
During the week, cotton arrivals were more than four lac and two thousand bales, a decrease of more than one lac and sixty eight thousand bales (29.51%) compared to last year’s more than five lac and seventy thousand bales.
Currently, 268 ginning factories are operational, a decrease of 100 factories compared to last year’s 368 factories.
Naseem Usman, Chairman of the Karachi Cotton Brokers Forum, commented on the report, saying that this year’s cotton crop was relatively low and weather conditions were unfavourable, resulting in reduced production due to excessive heat and rainfall. He also mentioned that unregistered trades may have taken place. However, interestingly, the Punjab Agriculture Department’s Crop Reporting Service Wing has reported cotton production in Punjab up to July 31 as more than four lac and fifty thousand bales, which is one lac and fifty seven thousand bales more than the PCGA’s reported figure of more than two lac ninety two thousand bales.
Copyright Business Recorder, 2024
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