Cotton crop arrivals down by 20pc, says Ginners Association
- By Web Desk -
- Feb 19, 2020
KARACHI: Pakistan Cotton Ginners Association (PCGA) has pointed out 20 per cent decrease in cotton crop arrivals at ginning factories in the period till January 15, ARY News reported on Wednesday.
According to a report released by Pakistan Cotton Ginners Association, total arrivals were recorded at 8.6 million bales, down 20 percent as compared with 10.70 million bales recorded during the same period last year.
The cotton crop recorded shortfall of 2.1 during ongoing fiscal year of 2019-2020.
Earlier, Pakistan Cotton Ginners Association (PCGA) data had showed cotton arrivals by September 15, 2019 were recorded at 1.852 million bales, which was down by 26.41 percent, compared with 2.517 million bales during the same period in previous year.
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The arrivals were hit a tailspin due to monsoon-related production losses, which squeezed the supply to the market that may have to rely on imported cotton to meet its demands.
The slow arrival of crop in the local markets attributed to prevailing market rates that growers said were un-viable for them until the announcement of a fair support price by the government.