Cotton arrival in Pakistan registered a massive decline of 59% as of September 30, 2024 compared to the same period of the previous year, showed data released by the Pakistan Cotton Ginner’s Association (PCGA) on Thursday.
As per the report, total cotton arrival in Pakistan clocked in at 2.04 million bales compared to 5.025 million bales recorded on September 30, 2023, a decrease of 2.985 million bales.
On a fortnightly basis, cotton arrivals improved by 42%, as compared to 1.434 million bales recorded on September 15, 2024.
The decline in cotton arrival, an essential raw material for the textile sector, is a concerning development for Pakistan.
The country’s crucial textile sector, responsible for a majority of Pakistan’s exports, has been at the receiving end of a plunge in demand and rising energy prices.
The All Pakistan Textile Mills Association (APTMA), which represents the largest industrial sector of Pakistan, on several occasions has urged authorities to end cross-subsidies to nonproductive sectors.
On Tuesday, APTMA held a meeting with Minister of State for Finance Ali Pervaiz Malik and discussed issues being faced by the textile industry.
During the meeting, the APTMA leadership voiced their concerns about ongoing challenges faced by the textile sector which have led to a substantial underperformance in exports, currently, lagging by $9 billion compared to the sector’s potential.
Month-on-month: cotton arrival in Pakistan stagnates in March
Province-wise breakup
As per PCGA data, cotton arrival saw a significant decline from both Punjab and Sindh.
As of March September 30, cotton arrival in Punjab clocked in at 0.727 million bales as compared to 2.069 million bales clocked in during the same period last year, a decrease of 65%. However, on a fortnightly basis, cotton arrivals from Punjab jumped by 35%, as compared to 0.539 million bales reported on September 15, 2024.
Similarly, cotton arrival in Sindh also declined by 56% at 1.313 million bales compared to 2.956 million bales registered in SPLY.
However, the fortnightly increase was also significant in Sindh, as cotton arrivals jumped by 47% as compared to 0.895 million bales recorded on September 15.
Comments
Comments are closed for this article.