Cotton arrival in Pak local markets recorded 9.36pc increase

Cotton arrival in the Pakistan local markets recorded an increased by 9.36 per cent as compared to the same period of last year. About 12.67 million cotton bales arrived in local market.

Cotton Commissioner in the Ministry of Textile Industry, Dr. Khalid Abdullah talking to APP on Monday, said that cotton arrival in Sindh Province registered 13.49 percent increase as compared to the arrival of same period of last year. While, Cotton arrival in Punajb posted 7.7 percent increase as compared to same period of last year. The cotton production target for Punjab was set at 9 million bales which was revised to 8.7 million bales and Sindh production estimates were also revised at 3.15 million bales due to flash floods in the country.

He said that production target of Balochistan was set at 0.018 million bales while Khyber Pakhtunkhwa given a task to produce about 0.0043 million cotton bales during last crop season.

Cotton Commissioner said that final cotton crop output figures will be received during month of March. He said that crop production for the period under review was fixed at over 14 million bales which was revised due to damages made by torrential rains and flash floods across the cotton producing areas of the country.

The seed cotton prices at local markets of Sindh were recorded at Rs. 2,500 per 40 kg in Mirpur Khas, Rs. 2,700 in Sangar and 2,900 in Khairpur. While, in Punjab it was recorded at Rs. 3,600 per 40 kg in Rahim Yar Khan, Rs. 3,700 in Bahwalpur and 3,200 per 40 kg in Multan.

Dr. Abdullah said that cotton price was recorded at 89.1 Cents per pound in international market as compared to its 80.71 Cents per pound in local market where as it was registered at 83.9 Cents in Indian market.