13.38mn cotton bales reach ginneries across country

MULTAN: Over 13.38 million bales of cotton have reached ginneries across Pakistan as of Apr 1, registering a 3.86 per cent increase compared to corresponding period last year.

Seed cotton (Phutti) equivalent to 13,385,835 bales reached ginneries till April 1 compared to 12,888,028 bales arrival recorded during corresponding period last year, says a fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) here Thursday.

Report says Phutti equivalent to 13.379 million bales have undergone the ginning process.

Arrivals in Punjab were recorded at 9.625 million or 9,625,703 bales, exactly 1.49 per cent above the arrivals recorded during corresponding period of last year.

Arrivals in Sindh were recorded at 3.76 million or 3,760,132 bales, showing a surge by 10.47 per cent, compared to last year.

Exporters have bought 382,006 bales while textile mills purchased 12.3 million or 12,307,266 bales, thus, total sold out cotton bales were calculated at 12.68 million or 12,689,272 bales, the report says.

Exactly 696,563 bales were still lying with the ginneries as unsold stock till Apr 1, 2014.