Cotton Increased by 3.69% at Ginneries in Pakistan as on May 1, 2014

The arrival of cotton increased by 3.69 percent to 13.391 million bales at ginneries in Pakistan as on May 1, 2014, compared to the arrival of 12.915 million bales during the corresponding period in previous season, according to the consolidated statement of cotton arrivals in factories of Pakistan, prepared by the Pakistan Cotton Ginners’ Association (PCGA), using data collected with joint cooperation of All Pakistan Textile Mills Association (APTMA) and the Karachi Cotton Association (KCA).

According to the fortnightly report, 13.388 million bales of cotton were pressed by ginners as on May 1, 2014, of which, 12.983 million bales were sold, leaving an unsold stock of 404,869 million bales of ginned cotton.

Of the ginned stock, over 12.584 million bales of cotton were sold to domestic textile mills in Pakistan, while another 399,382 bales were purchased by exporters. The Trading Corporation of Pakistan (TCP) has not procured cotton so far during the ongoing cotton season.

In Punjab province, which is the main cotton growing region in the country, over 9.631 million bales of cotton reached ginneries by May 1, of which, 9.629 million bales were pressed, leaving an unginned stock of 1,880 cotton bales. Majority of the bales were sold to local textile mills, and only 123,826 bales were sold to exporters, according to the data.

In Sindh province, almost all of the 3.76 million bales of cotton received were pressed by the ginners, and 3.629 million bales were sold, leaving an unsold stock of 129,795 bales with the ginners. Textile mills bought 3.353 million bales of cotton, while another 275,556 bales were sold to exporters.

During July-March 2013-14, Pakistan exported 102,276 tons of raw cotton valued at US$ 181.895 million, compared to exports of 75,941 tons of raw cotton worth $126.774 million made during the same period in previous fiscal year, thus registering a sharp increase of 43.48 percent year-on-year, according to the data from the Pakistan Bureau of Statistics (PBS).  However, imports of raw cotton witnessed a sharp 29.43 percent year-on-year decline and were valued at $474.155 million during the nine-month period.