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Cotton production reaches 9.7m bales
KARACHI, April 5: Cotton outturn at the ginning
stage reached 9.7 million bales equivalent lint by
the end of March, marginally up by 0.74 per cent,
compared to 9.6 million bales output a year ago,
senior ginners’ said on Saturday.
Top officials in the Pakistan Cotton Ginners
Association (PCGA) said that the production was
reported at 9.760 million bales at the ginning
stage as on April 1, with an inflow of 78,818
bales equivalent lint during the second fortnight
of March.
The more-than-expected growth is likely to cause a
continuation in the recent bearish trend in the
domestic market as the spinners kept to the
sidelines on the account of imported raw cotton,
mainly from India and the United States.
According to PCGA’s leaked figures, in the Punjab,
the cotton outturn stood at 7.62 million bales, up
2.27 per cent, compared with 7.45 million bales a
year ago period.
Out of 20 cotton-growing districts, the arrivals
were short in five areas with 65 factories in
operation across the province.
The production was 2.123 million bales in Sindh,
down 5.17 per cent, compared to 2.220 million
bales a year earlier.
Out of nine cotton-growing areas, the seed cotton
arrivals were short in seven districts with 16
ginneries in operation.
Senior cotton brokers said that the raw cotton
demand remained depressed in the backdrop of a
bearish trend in cotton yarn off-take worldwide.
They said that the Export Promotion Bureau cut the
average yarn price to $1.99 per kilogram from $2.1
a kg.
The two factories located in Balochistan reported
production of 3,596 bales equivalent lint so far
but this figure did not represent the production
in the province as ginners from the Punjab and
Sindh were believed to have bought a decent
quantity of Balochistan’s seed cotton.
The ginners sold out over 8.618 million bales, as
on April 1, while the unsold stocks escalated to
1.23 million bales including some unginned seed
cotton equivalent to over 0.27 million bales of
lint.
The News International, Pakistan |
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Pakissan.com; Advisory Point
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