Cotton stockpiling down 35.6pc

KARACHI: Cotton arrivals in the ginning factories dropped 2.8 million bales, or 35.6 percent, by December 15, a report issued on Friday said.

According to the report released by the Pakistan Cotton Ginners Association (PCGA), cotton arrivals in factories were recorded at 5 million bales, down 35.6 percent from 7.86 million bales during the same period last year.

Of these arrivals, 62,500 bales were exported, up 20 percent, against 52,160 bales last year. By this time, 4.16 million bales have been sold to mills, down 36 percent against the last year’s 6.53 million bales.

Currently, 826,267 bales are in stocks with the ginners, down 35 percent, compared with 1.27 million bales in stocks last year.

However, fortnightly flows (December 1 to 15) remained down by 1.05 percent at 409,332 bales against the flows of 413,659 bales during the same period last year.

Punjab recorded arrivals of 2.97 million bales, down 33 percent, against the arrivals of 4.46 million bales by the same period last year. Arrivals from Sindh went down 39 percent to 2.07 million bales against 3.39 million bales in the ginning factories by the same period last year.