Cotton arrivals show 62.09 percent increase

Cotton arrivals recorded at the ginneries as on November 1 stood at 6.268 million bales against 4.142 million of the corresponding period last year, showing an increase of 62.09 percent. Arrival figures released by the Pakistan Cotton Ginners Association (PCGA) indicated that the cotton arrivals is a clear indication of a bumper crop for 2004-05. According to the PCGA, Sindh contributed 1.430 million bales in total of 6.268 million bales. Punjab's share in net total was recorded at 4.827 million bales.
Almost all cotton growing districts have surpassed their last year's output and, thus, played pivotal role in taking the net total to 6.268 million bales.
As many as 6.046 million bales have been pressed at the ginneries.
Of the total of 6.268 million, the ginners sold 4.639 million bales. Of the net sold stocks, 0.146 million bales have been exported; 0.139 million sold to the Trading Corporation of Pakistan (TCP); and 4.639 million sold to the textile industry.
The report indicated that ginners have 0.405 million unsold bales in their stocks.
PCGA chairman Haji Ibrahim expects around 10.350 million bales of 2004-05. The substantial increase in cotton arrivals would leave huge stocks of cotton with the ginners, which is a cause of serious concern to them.
Although the TCP is engaged in cotton buying and it has so far picked up 0.136 million bales, however, ginners want more active role from it and their representatives may take the issue with government authorities when they come across them early next week at a meeting scheduled to review cotton crop situation.
Haji Ibrahim said that the crop prospects are even far better than what the ginners were expecting at the beginning of the season.
He said: "The crop volume would be well over 10.350 million bales of 2004-05 season."
Another edge, which Pakistan is enjoying this year in the case of cotton, is that the quality of the crop is much better than previous years.
It may help Pakistan increase its cotton export and cotton-related items, besides lowering down percentage of import, at least for the current fiscal year.