KARACHI: More than 11.381 million bales of cotton had reached the ginners till February 13, 2011, showing a decline of 9.80 percent over same period last year.
According to a consolidated statement of Pakistan Cotton Ginners Association (PCGA) here Tuesday, Punjab produced 7.627 million bales, down by 9.30 % over February 2010, while Sindh crop declined by 10.79 percent to 3.754 bales over previous year.
Arrival from Punjab during the same period last year was 8.409 million bales while it was 4.208 million bales in Sindh.
Of the total, textile mills purchased more than 10.379 million bales during the period under review while exporters procured 496,330 bales, leaving an unsold stock of more than 505,941 million bales with the ginners. TCP stayed away from the market.
As much as 336 ginning factories were in operation in the country, of which 296 are in Punjab and 40 in Sindh.
Chairman Karachi Cotton Brokers Forum Naseem Usman, while commenting on the crop arrival, said that the country needs to import more cotton to meet local demand for spinning sector as 1.2 million bales are short this year.
Comments
Comments are closed for this article.