Cotton arrival in Pakistan picked up pace, increasing 44%, showed latest data released by the Pakistan Cotton Ginner’s Association (PCGA) on Saturday.
As per the fortnightly report released by PCGA, total cotton arrival in Pakistan surged to 7.274 million bales as of December 15, 2021, compared to 5.057 million bales in the same period last year, a difference of 2.217 million bales and a growth of 44%.
Last week, the Cotton Crop Assessment Committee (CCAC) estimated the total production of cotton during the crop season 2021-22 at 9.1 million bales in the country.
The committee estimated 5.168 million bales in Punjab, 3.5 million bales in Sindh, 0.43 million in Balochistan and 0.004 million bales in Khyber Pakhtunkhwa.
Meanwhile, as per PCGA data, cotton arrival reported a substantial increase in both Punjab and Sindh.
As of December 15, cotton arrival in Punjab was 3.774 million bales compared to 2.979 million bales in the same period last year, an increase of 0.795 million bales or 27%.
Similarly, cotton arrival in Sindh reached 3.501 million bales as compared to 2.079 million bales reported in the same period last year, an increase of 1.422 million bales or 68%.
Cotton is a vital ingredient for the country’s textile group, which is the backbone of Pakistan economy.
Textile exports witnessed 28.41% growth during the first five months (July-November) of the current fiscal year and remained $7.758 billion compared to $6.041 billion during the same period of the last fiscal year, says the Pakistan Bureau of Statistics (PBS).
The exports and imports data released by the PBS revealed that textile group exports on a month-on-month basis witnessed 8.45% growth and remained $1.736 billion in November 2021 compared to $1.6 billion in October 2021.
On a year-on-year basis, textile group exports witnessed 35.33% growth in November 2021, when compared to $1.282 billion in November 2020.
Cotton yarn exports registered a growth of 65.45% during July-November 2021 and remained at $503.897 million compared to $304.553 million during the same period last year and increased by 47.03% in November 2021 and remained $109.133 million when compared to $74.224 million during the same month last year.