A fortnightly report recently released by the Pakistan Cotton Ginners Association (PCGA), states that around 8.357 million cotton bales have been sourced to the country's ginneries by December 1.
As revealed by the report, there has been a 19.86 percent fall in the quantum of cotton reaching the ginneries by December 1, as compared to the 10.427 million bales of cotton that reached the ginneries during the same period last year.
While 6.887 million cotton bales were sold to the textile units, exporters bought some 3,890,70 bales. Thus, overall 7.27 million bales have been traded till now, without TCP participating in the trading activity so far. There are more than one million bales which still remain to be sold.
Around 5.262 million bales have been sold to the cotton ginneries in Punjab, which is 22.36 percent less than the 6.77 million bales sold during the same period last year. Also, the cotton arrival in Sindh Province was recorded at over three million bales, which is indicative of a year-on-year deficit of 15.2 percent.
Fibre2fashion News Desk - India
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