The fortnightly report on cotton arrival for the 2013-14 season, released by the Pakistan Cotton Ginners Association (PCGA), shows that around 1.73 million bales of cotton have reached ginners by September 1, 2013.
The ginners have so far pressed 1.57 million bales, out of which around 1.44 million bales have been procured by local textile mills, while around 69,654 bales have been sold to the exporters, thereby leaving ginners with an unsold stock of 71,567 bales.
This indicates 1.5 million bales have been traded so far this season, without Trading Corporation of Pakistan’s (TCP) intervention.
According to the report, 644,357 bales have reached ginners from Punjab by September 1, 2013, which indicates a decline of 33.41 percent, compared to 967,654 bales that reached ginners over the same period last year.
However, cotton arrivals from Sindh have grown by 41.63 percent from 763,591 bales to 1.08 million bales, according to the report.
In May 2013, Cotton Development Commissioner in the Ministry of Textile Industry, Dr. Khalid Abdullah said the Federal Government has set a target of producing 14.1 million bales for 2013-14 season, 5.75 percent higher than the previous season’s projected output.
In July, the Cotton Crop Assessment Committee (CCAC) projected the output for the current season at 13.25 million bales, but in August it downwardly revised its estimates to 12.65 million bales.
However, Ghulam Rabbani, a senior member of Pakistan Yarn Merchant Association, recently said that the country is likely produce around 14.50 million bales of cotton during 2013-14 crop season.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=151534
