Cotton arrival in Pakistan increased by 70% year-on-year, showed the latest fortnightly data released by the Pakistan Cotton Ginner's Association (PCGA) on Thursday.
As per the report released by PCGA, total cotton arrivals in Pakistan surged to 6.852 million bales as of November 15, 2021, compared to 4.027 million bales in the same period last year, a difference of 2.825 million bales and a growth of 70%.
Pakistan’s textile group exports witnessed 26.55% growth during the first four months (July-October) of the current fiscal year and remained $6.021 billion compared to $4.758 billion during the same period of the last fiscal year, said the Pakistan Bureau of Statistics (PBS).
On a monthly basis, textile group exports witnessed 7.65% growth and remained $1.6 billion in October 2021 compared to $1.487 billion in September 2021.
Last month, the Ministry of National Food Security and Research said that the revised cotton production target of 9.3 million bales set for 2021-22 is expected to be met or even exceed, and with the latest figures the production target is likely to be achieved.
Meanwhile, as per the PCGA data, cotton arrivals reported a substantial increase in both cotton producing provinces of Punjab and Sindh.
As of November 15, cotton arrival in Punjab was 3.413 million bales compared to 2.151 million bales in the same period last year, an increase of 1.262 million bales or 59%. On fortnightly basis, cotton arrivals recorded an increase of 16% as compared to 2.935 million bales arrived on November 1.
Similarly, cotton arrival in Sindh reached 3.439 million bales as compared to 1.875 million bales reported in the same period last year, an increase of 1.564 million bales or 83%. Whereas, on fortnightly basis, cotton arrivals recorded an increase of 4% as compared to 3.321 million bales arrived on November 1.