12m cotton bales reach Ginneries across Pakistan

MULTAN: Over 12.02 million bales of cotton have reached ginneries across Pakistan as of January, 15, 2013, showing a shortfall by 6.29 per cent compared to corresponding period last year.

According to a fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) here on Friday, cotton arrival was recorded at 12,022, 040 bales and of them 11.8 million bales or 11,813,199 were pressed into bales.

Overall arrival figures show a shortfall by 6.29 per cent compared to arrival figure that was recorded at 12.82 million or 12,829,619 bales during corresponding period last year.

Punjab recorded arrival of 8.7 million or 8,725,980 bales showing a shortfall by 15.39 per cent while Sindh ginneries received 3.29 million or 3,296,060 bales recording a surge by 30.96 per cent compared to last year.

The report said that exporters bought 200,586 bales while another 10.43 million bales were bought by textile millers till January 15, 2013. The stock of unsold bales was recorded at 1.58 million or 1,586,846 bales, says the report.