Unsold stock soared to 1.2 million bales , PCGA report reveals

MULTAN, March 3rd: Inspite of renewed buying by Textile mills and increasing the rates in coton market upto Rs.8800 from 7300,  unsold stock of coton reached to 12,05,221 which lying in the ginneries of Punjab and Sindh. Deals of 400 bales of cotton from Ghotki at Rs 8850, 5000 bales from Rahim Yar Khan at Rs 8800, 400 bales from Faqeerwali at Rs 7800, 800 bales from Haroonabad at Rs 7300/7400 and 4600 bales from Exporter to Mill at Rs 8550/8600 were reported which are encouraging. Pakistan Cotton Ginners Association (PCGA) on Sunday released the figures of cotton arrival in ginneries till March Ist.Briefing the media men here today Malik Talat Iqbal and Salman Maqbool said that that  Seed cotton (Phutti) equivalent to over 1,07, 41,381  bales of cotton  have reached ginneries across Pakistan as of March  Ist,showing a decrease of 6.80 per cent compared to corresponding period last year when ginneries received 1,15,24,581 bales. Fortnightly report revealed that 40,385 bales of cotton received during this fortnight. Out of the total arrivals. Ginneries in Punjab recorded arrival of  65,92,318 bales against the last year arrival of 72,71,323 bales showing a  decrease of 9.34 per cent. Sindh ginneries recorded arrival of 41,49,063  bales while last  year Sindh received 42,53,258  bales 2.45 % less as compared to corresponding period last year.Textile mills have bought 94,33,830 bales while exporters bought 1,02,330 bales. The total bales  sold out so far were calculated at 95,36,160 bales. While 12.05.221   bales are lying unsold .Multan received 2,39,726 bales 15.45 %  decrease than last year, Lodhran 1,45,593   bales 15.35  % decrease, Khanewal 5,26,955 ,bales a decrease of 25.63 %, Muzaffargarh 3,31,372  bales a decrease of 10.42 %, Dera Ghazi Khan 4,75,443 an increase of 8.57%, Rajanpur 4,27,795   bales, 4.50 % decrease, Layyah 2,39,090  bales  20.94.% decrease, Vehari 4,42,587  bales  24.90  % decrease, Sahiwal 2,11,883 bales 22.98   % less than last year, Pakpattan 19,414  bales 50.39 % decrease, Okara 12,600 bales- 20.13 % short, Toba Tek Singh 1,59,888   bales, 10.73 % decrease , Faisalabad 34,092  bales 12.08 % less than  last year, Jhang 15,755  showing a decrease of 26.13  %, Mianwali 1,07,749 a decrease of 47.76  % , Bhakkar 31,298 (63.22  % less) Rahim yar Khan 11,93,040 ,anincrease of 11.26 than last year,Bahawalnagar 9,93,574 2 percent less and Bahawalpur 9,84,464 2.91 % less. Hyderabad 2,37,077 bales,6.07 % less than preceding year,Mirpur Khas (Thar) 1,22,224,bales 44.79  % less, Sangarh ,12,89,369  bales  6.77  % decrease, Nawabshah 3,84,173  bales (10.30 % increase), Naushero Feroze 3,66,179  bales (2.43  % decrease), Khairpur 3,75,61  (11.12 % increase) Ghotki 4,55,138 (18.14  % increase),Sukkur 6,24,763  (1.30% increase), Dadu 69,036 (0.21 % decrease), Jamshoro 1,03,791bales (20.23 % less) ,Badeen 4,400 bales 74.62 % less) and Baluchistan 1,17,852   bales (an increa
se of 0.99%,
Total 55 ginning factories are operational in the country.Of them 51 in Punjab and 4 in Sindh.Total 12,05,221 bales are lying in unsold stock.They told that the data was collected with joint cooperation of PCGA, APTMA and KCA. The Cotton Crop Assessment Committee (CCAC) may revise cotton production estimates to 10.5 million bales of 170kg each for this season, down from earlier projections of 10.87m bales.The predictions dashed all hopes of harvesting a bumper cotton crop in 2018-19.The country’s overall cotton production has deteriorated over the years in turn affecting the gross domestic product. The country’s last bumper cotton crop of 14.9m bales was harvested in 2013-14.Under the revision, production in Sindh is expected to witness a shortfall of merely 0.1 million bales to 0.12m bales. The province produced 4.253m bales in last season. Production estimates for Balochistan were also revised upward to 0.15m, which is lower than the last year’s output. Khyber Pakhtunkhwa is expected to produce around 0.02m bales.The country’s cotton production has been under stress during the last four years as country mainly because of adverse effects of climate change and shortage of irrigation water and partly due lack of attention to the declining output from the successive governments.