14.1 million bales traded so far: PCGA

Attention: open in a new window. PDFPrintE-mail

From International Desk - Special Reports

Textile Mills have purchased 13.04 out of 14.67 million bales of cotton while private exporters had purchased 1.06 million bales till April 1st and unsold stock of 0.569 million lying in the ginneries, revealed a fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) on Tuesday.

The report further revealed that around 14.67 million cotton bales have been sourced to the country's ginners by 1st April.

There has been a 25.39 percent increase in the quantum of cotton reaching the ginners by 1st April, as compared to the 11.60 million bales of cotton that reached the ginners during the same period last year.Briefing to newsmen about the cotton arrival here on Tuesday PCGA, Chairman, Amanullah Qureshi, said that 13.04 million cotton bales were sold to the textile units, exporters bought some 10,60,076 bales.

Thus, overall 14.10 million bales have been traded till now, without TCP participating in the trading activity so far.

PCGA Chairman added that there are 569,492 bales, which still remain to be sold.

Chairman of PCGA has said that increase of cotton arrival was 25.39 per cent.He said total 146,70,338 bales of cotton were received during this season.

It was 30,62,761 bales more than last year showing an increase of 25.39 percent in the production in spite of unfair weather, flood, diseases and pest attacks in Sindh and monsoon rains in Punjab.

While 121,493 bales were received during last fortnight from March I6th to April 1st.He said that total 105 ginning factories are operational in Sindh and Punjab.

Recent floods had badly hit the cotton crop in the districts of Hyderabad, Nawabshah, Dadu, Mirpurkhas Sangarh and other areas of Sindh.

They said that 43.49 per cent cotton was destroyed in Hyderabad, 54.54 per cent in Mirpurkhas, 50.36 per cent in Sangarh, 42.69 per cent in Nawabshah, 5.77 per cent increased in Naushehro Feroze, 2.65 per cent in Khairpur, 57.13 per cent decreased in Dadu and 100 per cent increased in Jamshoro, 155 per cent increased in Balochistan.The report revealed that an increase of 59.99 per cent Multan, 86.81 per cent cotton in Lodhran district, 57.99 in Khanewal, 125.53 per cent in Muzaffargarh, 41.12 per cent in Dera Ghazi Khan, 142.52 per cent in Rajanpur, Layyah 64.37 per cent, 41.12 per cent in Vehari, 40.07 per cent in Sahiwal, Pakpattan 30.70 per cent, 437.80 per cent in Kasur, Okara 18.73 per cent, 45.96 per cent in Toba Tek Singh ,19.24 per cent in Faisalabad, Jhang 64.01 per cent, 102.52 per cent in Mianwali, 86.16 per cent in Bhakkar, and 32.76 per cent in Sargodha, Rahimyar Khan 42.66 per cent, Bahawalpur 40.66 per cent, Bahawalnagar 40.62.The unsold stock is 727,424 bales, which is more than last year, when unsold stock was 297,656.

Chairman of Pakistan Cotton Ginners Association (PCGA) said that Punjab contributed 119,91,279 bales, last year it contributed 78,13,659 bales showing an increase of 53.47 per cent.Similarly Sindh contributed 26,79,059 bales against the last year production of 37,93,918 bales showing a decrease of 29.39 per cent and Balochistan 61,500 bales.

District-wise production data showed that Multan contributed 694,674 bales, Lodhran 474,731 bales, Khanewal 11,89,221 bales, Muzaffargarh 541,533 bales, Dera Ghazi Khan 436,143 bales, Rajanpur 490,639 bales, Layyah 295,135 bales, Vehari 11,00,362 bales, Sahiwal 759,184 bales, Pakpattan 352,397 bales, Okara 62,450 bales, Kasur 44,100 bales, Toba Tek Singh 410,777 bales, Faisalabad 138,995 bales, Jhang 261,808 bales, Mianwali 363,435 bales, Bhakkar 175,408 bales, Sargodha 54,500, Rahim Yar Khan 15.06,315 bales, Bahawalpur 12,52,111 bales, and Bahawalnagar 13,87,359 bales.Sindh's district-wise production figures were: Hyderabad 204,961 bales, Mirpurkhas 181,021 bales, Sanghar 789,602 bales, Nawabshah 200,111 bales, Naushero Feroze 205,683, Khairpur 214,062 bales, Ghotki 300,810 bales, Sukkur 344,525 bales, and Dadu 50,967 bales, Jamshoro 87,794, Badin 27,832 Balochistan added 61,500 bales to the total.PCGA claimed that 2 million bales were destroyed in the floods in Sindh.

Policy-makers may hope that bumper cotton crop will help the government make deficiency in other areas, taking the annual growth rates to over 7 per cent.

The Chairman PCGA reiterated demand to the government to announce relief and bail out package for 250 cotton ginning factories of flood-hit areas.The report said that the ginners pressed 146,46,496 bales.

Only 10,60,076 bales were exported by commercial exporters (who mostly purchased from Punjab), and merely 3,27,359 bales were purchased from Sindh.

The textile industry purchased 130,40,770 and 569,492 bales were available with ginners as unsold stock.

They told that cotton trading remained firm amid strong physical price and higher cottonseed prices.

Courtesy: Business Recorder

forex pakistan

Forex open Market rates & comments Archive