Cotton arrival in Pakistan increased 37% year-on-year, showed the latest fortnightly data released by the Pakistan Cotton Ginner's Association (PCGA) on Tuesday.
As per the report, total cotton arrivals surged to 7.347 million bales as of January 1, 2022, compared to 5.371 million bales in the same period last year, a difference of 1.97 million bales. On a fortnightly basis, cotton arrival in the county was up 1%, as compared to 7.274 million bales arrived on December 15, 2021.
Cotton is crucial for Pakistan's textile sector that is also the country’s largest exporter.
“The textile sector, which accounts for 60.86% in total exports witnessed a remarkable increase of 22.93% during FY2021 in comparison with a negative growth of 6.01% last year and amounted to $15.399 billion in FY2021 as compared to $12.527 billion during FY2020,” revealed Pakistan Bureau of Statistics in its report titled, 'Annual Analytical Report on External Trade Statistics of Pakistan FY 2020-21'.
“Rebound in exports of textile is the outcome of a series of incentives to support exporters to meet the challenges in the wake of COVID-19 and disruption in supplies. Moreover, the government’s decision to keep businesses open during lockdown provided an opportunity to secure orders diverted from economies under strict lockdown,” the report added.
Over 7.2mn bales of cotton reach ginneries, up 44% YoY: PCGA
Meanwhile, as per the PCGA data, cotton arrivals reported a substantial increase in Punjab and Sindh — the major cotton-producing provinces of the country.
As of January 1, cotton arrival in Punjab was 3.839 million bales compared to 3.509 million bales in the same period last year, an increase of 330 million bales or 18%. On a fortnightly basis, cotton arrival posted an increase of 2% as compared to 3.774 million bales on December 15.
Similarly, cotton arrival in Sindh hit 3.509 million bales as compared to 2.112 million bales reported in the same period last year, an increase of 1.397 million bales or 66%. On a fortnightly basis, cotton arrival increased marginally of 0.2% as compared to 3.501 million bales on December 15.
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