MULTAN: The ginneries across the country have received 8.631 million or 8,631,933 cotton bales till Dec 1, showing 28.93 per cent shortfall as compared to corresponding period last year.
According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA), out of total arrivals, Phutti equivalent to 7,834,819 or 7.83 million bales has undergone the ginning process. The arrival at Punjab ginneries was recorded at over 5.1 million or 5,103,092 bales, thus recording a percentage decrease of 39.95 per cent compared to corresponding period of last year. Arrivals at ginneries in Sindh were recorded at 3.5 million or 3,528,841 bales showing a percentage decrease of 3.26 per cent.
Textile Mills have purchased over 6.2 million or 6,289,399 bales, and exporters have bought 352,826 bales. Total sold out bales were calculated at 6.64 million or 6,642,225 bales.
Exactly 1,989,708 bales were still lying with the ginneries as the unsold stock, the report said. Trading Corporation of Pakistan (TCP) has not yet intervened in the buying process.
Meanwhile, 919 ginning factories in Punjab and Sindh continued to remain operational converting seed cotton (Phutti) into bales. There are almost 1300 ginning factories in the country and 919 were operational including 228 in Sindh and 691 in Punjab.
