Cotton arrival up by 13 percent to 4.715 million bales

KARACHI: Cotton production in the country has recorded a significant increase of 13 percent to more than 4.715 million bales till October 15, 2011 despite damage to crop in Sindh, over last year's 4.173 million bales.

According to a consolidated statement of Pakistan Cotton Ginners Association (PCGA) here Tuesday, the arrival has recorded a rise of more than 0.453 million bales in the fortnight.

Punjab produced 3.355 million bales, up by 19.14 percent over the same period of the last year while Sindh crop was lower by 33.18 percent to 1.365 million bales over last year's 2.043 million.

Of the total textile mills purchases included 3.287 million bales during the period under review while exporters procured 123,326 bales, leaving an unsold stock of over 1.305 million bales at ginners.

Chairman Karachi Cotton Brokers Forum Naseem Usman while commenting on the production said that devastating floods have badly damaged cotton crop and about 2.2 million bales have been destroyed.

However, he said that rise in cotton production in Punjab will make up the shortage from Sindh and country is likely to have a total production of more than 13 million bales this year.

Copyright APP (Associated Press of Pakistan), 2011