Cotton arrival in Pakistan increased 54% year-on-year, showed the latest fortnightly data released by the Pakistan Cotton Ginner's Association (PCGA) on Friday.
As per the report, total cotton arrivals surged to 7.168 million bales as of December 1, 2021, compared to 4.648 million bales in the same period last year, a difference of 2.52 million bales.
Cotton is crucial for Pakistan's textile sector that accounts for 3.4% of the Gross Domestic Product (GDP) compared to 7.5% for Bangladesh, 5.1% for Sri Lanka, 12% for Cambodia and 3.5% for Turkey, stated the Asian Development Bank (ADB) in its report, “Global Value Chain, Development Report 2021, Beyond Production.”
Meanwhile, as per the PCGA data, cotton arrivals reported a substantial increase in Punjab and Sindh — the major cotton-producing provinces of the country.
As of December 1, cotton arrival in Punjab was 3.679 million bales compared to 2.634 million bales in the same period last year, an increase of 1.045 million bales or 40%. On a monthly basis, cotton arrival recorded an increase of 25% as compared to 2.935 million bales on November 1.
Similarly, cotton arrival in Sindh reached 3.489 million bales as compared to 2.014 million bales reported in the same period last year, an increase of 1.475 million bales or 73%. On a monthly basis, cotton arrival recorded an increase of 5% as compared to 3.321 million bales on November 1.