ISLAMABAD: Cotton arrival at the local market was recorded at 10.768 million bales by the last week of December 2012 as compared to the 11.036 million cotton bales of same period of December 2011.
Out of the total, about 8.756 million cotton bales have arrived from the Pujnab province as compared to the 8.756 million bales of same period last year, said Cotton Development Commissioner in the Ministry of Textile Industry, Dr. Khalid Abdullah.
Talking to APP here on Tuesday, he said that cotton arrival from Sindh witnessed growing trend where about 3.123 million bales arrived in the local markets compared to 2.279 million bales of same period of last year.
"About 13 million cotton bales production is expected this year which is lower then 0.3 million bales as government had set targets of 13.3 million bales for the year 2012-13", he added.
He informed that due to torrential rains and flash floods across the cotton sowing areas of Sindh and Punjab provinces destroyed standing crop over a vast area but despite of that cotton crop output remain encouraging.
Dr. Abdullah further said that cotton trading in local market was recording at Rs. 6,450 per 40 kg as compared to 84.8 cents per pound in the international market.
In Indian market cotton trading was recorded at Rs. 34,000 per candy which was equal to 78.9 cents per pound adding that local cotton prices were higher about 74.65 cents per pound in the international market which resulted in reduction in its export, he added.
He said that cotton export from the country was during the period from July-November 2012 was recorded at 239,024 bales as compared to 352,353 bales of same period last year.
Meanwhile, about 539,212 bales imported during the period from July- November 2012 as against the import of the 313,734 bales which was higher then 71 percent as compared to same period of last year.
He said that prices differential of the cotton in the local market as compared to the international market led to accelerated the import of the commodity by about 71 percent as compared to same period of last year.
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