According to the most recent fortnightly data made available by the Pakistan Cotton Ginner’s Association (PCGA) on Tuesday, cotton arrival in Pakistan increased significantly over the course of the past two weeks, rising by 27.7% as of September 30 compared to September 15.
According to the report, Pakistan received 5.025 million bales of cotton overall, an increase of 1.091 million bales from the 3.934 million bales that were counted on September 15, 2023.
Cotton arrival increases by over 28% in the final two weeks of September: PCGA
When compared to the 2.936 million bales registered on September 30, 2022, cotton arrival increased by more than 71% year over year.
Large tracts of agricultural land were destroyed by flash floods in Pakistan last year, particularly in Sindh and Balochistan, which had an influence on cotton crop production, which fell 34% YoY.
For Pakistan, which is struggling with money problems, the increase in cotton arrivals, a crucial raw material for the textile industry, is a positive development.
The country’s vital textile industry, which accounts for the majority of Pakistan’s exports, is also suffering from a decline in demand and worsening economic conditions.
broken down by province
According to PCGA data, both Punjab and Sindh contributed significantly more cotton than usual.
As of September 30, Punjab had received 2.069 million bales of cotton, up 34% from the 1.545 million bales reported on September 15, 2023. In comparison to the 1.546 million bales that arrived during the same time period previous year, Punjab’s cotton arrivals increased annually by 33.9%.
The arrival of cotton in Sindh increased by 0.567 million bales or 23.7% to 2.956 million bales from 2.389 million bales on September 15. The YoY growth was greater in Sindh, though, as cotton arrivals increased by 112.6 percent compared to the 1.391 million bales reported in SPLY.
Dr. Gohar Ejaz, the interim federal minister for commerce, industries, and production and the head patron of the APTMA, set the ambitious goal of $25 billion in textile exports for the current fiscal year, up from the previous fiscal year’s objective of $16 billion.
The minister also promised a one-month timeframe for the rapid restoration of all the nation’s shuttered sectors.
