Cotton production remains lower
RAHIM YAR KHAN – The figures of cotton production in Pakistan and India have been issued by Cotton Ginners Associations of both the countries, which showed that total domestic cotton production remained lower than previous year in both the countries.
According to the statistics issued by Pakistan Cotton Ginners Association (PCGA), the total domestic arrival of seed cotton (phutti) up to December 15 was 10,768,861 bales, 267,157 bales (2.42pc) lower than previous year. The report further said that up to December 15 total export of cotton was 171,946 bales whereas 8,853,314 bales have been purchased by the textile mills and 1,743,601 bales are lying pending for sale in ginning factories.
During the period, 7,645,861 bales equivalent seed cotton was received in ginning factories of Punjab that was 1,110,364 bales (12.68%) lesser than previous year whereas 3,123,000 bales equivalent seed cotton was received in ginning factories of Sindh that, 843,207 bales (37%) higher than previous year for the corresponding period. According to the report, 784 ginning factories in Punjab and 178 in Sindh were operational during the said period.
Ihsan-ul-Haq, ex-executive member of PCGA, said that according to the report issued by Cotton Corporation of India total domestic production of seed cotton (phutti) in India was 6,186,000 bales up to December 16 that is 717,000 bales (10.47%) lesser than corresponding period of previous year. According to the report of CCI, major shortage in cotton production was observed in Indian atates of Gujarat, Maharashtra and Madhya Parades with 30% shortfall in production. Ihsan-ul-Haq said that due to shortfall in cotton production, rising export of cotton yarn and gray cloth and due to rising price of dollar versus rupee has resulted in swift rise in cotton and phutti prices during previous week and cotton lint price has risen to Rs 6,300 with addition of Rs 300 per maund whereas phutti price has risen to Rs 2,925 with addition of Rs. 150 per 40 kg.
However, he warned that if gas loadshedding continued in Faisalabad then export of cotton and cotton price may be negatively impacted.
Courtesy: The NATION