Cotton arrival in Pakistan remained largely unchanged, witnessing a marginal increase of 1.1% as of January 31 compared to January 15, showed the latest fortnightly data released by the Pakistan Cotton Ginner’s Association (PCGA) on Saturday.
As per the report, total cotton arrival in Pakistan rose to 8.35 million bales compared to 8.258 million bales recorded on January 15, 2023, an increase of 0.092 million bales.
On a year-on-year basis, cotton arrival in surged by over 75% when compared to 4.764 million bales registered on January 31, 2022.
The YoY increase comes after flash floods in Pakistan in 2022 devastated large swathes of agricultural land in the country, especially in Sindh and Balochistan, impacting cotton crop production, which witnessed a 34% YoY decline.
Cotton arrival improves 13.3% in last two weeks of Oct: PCGA
The improvement in cotton arrivals, an essential raw material for the textile sector, is a welcome development for cash-strapped Pakistan, which is exploring ways to increase dollar inflows.
The country’s crucial textile sector, responsible for a majority of Pakistan’s exports, remains engulfed in several challenges including high energy costs, persistent delays in issuance of tax refunds coupled with a shortage and high costs of working capital and supply chain finance created an industry-wide liquidity crisis.
Province-wise breakup
As per PCGA data, cotton arrival reported a marginal increase from both Punjab and Sindh.
As of January 31, cotton arrival in Punjab clocked in at 4.238 million bales as compared to 4.159 million bales reported on January 15, 2024, an increase of 1.9%. On a yearly basis, cotton arrivals from Punjab jumped by 46.5%, as compared to 2.893 million bales clocked in during the same period last year.
Similarly, cotton arrival in Sindh was 4.111 million bales compared to 4.10 million bales recorded on January 15, an increase of 0.011 million bales or 0.3%. However, the YoY increase was more pronounced in Sindh, as cotton arrivals jumped by 119.8% as compared to 1.871 million bales registered in SPLY.
Comments
Comments are closed for this article.