Cotton crop arrivals go down in market: Ginners Forum

KARACHI: Cotton Ginners Forum has pointed out a decrease in cotton crop arrivals at ginning factories in the period till October 1st.

Around four million cotton bales were arrived to the ginning factories in the previous year upto Oct 1st according to the record, the cotton arrivals in the same period this year recorded 2.9 mln bales, 1.1 bales lesser than previous year, the ginners’ forum said.

The recorded arrivals from Sindh remained 1.7 mln bales during the period while 1.2 mln bales from Punjab, the ginners body said.

Earlier, Pakistan Cotton Ginners Association (PCGA) data showed cotton arrivals by September 15 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.

The arrivals have 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.