Inside Financial Markets

About 10.5 million bales of cotton reach ginneries

Pakistan Cotton Ginners Association (PCGA) has issued the figures of cotton arrival up to January 15th, 2017. Seed cotton (Phutti) equivalent to over 10,535,922 bales of cotton have reached ginneries across Pakistan as of January 15th, showing an increase of 11.19 percent compared to corresponding period last year when ginneries received 9,475,729 bales.

According to the 8th fortnightly report of Pakistan Cotton Ginners Association (PCGA) issued here on Wednesday Chairman of PCGA Dr Jeso Mal, Ex-chairman Shahzad Ali Khan and group Chairman Haji Muhammad Akram, Senior Vice Chairman Suhail Mehmood Haral briefed the media men about cotton production and said out of the total arrivals, 10.53 million bales of cotton have been converted into bales so far.

Ginneries in Punjab recorded arrival of 6,765,159 bales recorded increase of 17.81 percent. Sindh ginneries recorded arrival of 3,770,763 bales while last year Sindh received 3,733,243 bales merely 1.01 percent more.

Ginneries in Sindh recorded an increase of 1.01 percent as compared to corresponding period last year. Textile mills have bought 9,238,656 bales while exporters bought 199,844 bales.

The total bales sold out so far were calculated at 1,009,554 bales. While, 1,097,422 bales are lying unsold. Multan received 293,076 bales 129.53 percent increase than last year, Lodhran 1,89,434 bales 104.93 percent increase, Khanewal 575,742 bales 47.97 percent increase, Muzaffargarh 3,19,482 bales an increase of 24.37 percent, Dera Ghazi Khan 335,947 an increase of 15.41 percent, Rajanpur 332,312 bales, 17.85 percent decrease, Layyah 266,425 bales 7.51 increase, Vehari 378,262 bales 24.78 increase, Sahiwal 209,456 bales 16.35 percent less than last year, Pakpattan 41,873 bales 37.01 percent less, Okara 19,086-13.63 percent less, Toba Tek Singh 1,57,167 bales, Faisalabad 37,080 bales 28.17 percent less than last year, Jhang 30,102 showing decrease of 26.51 percent, Mianwali 2,63,435 a decrease of 17.62 percent, Bhakkar 61,641 (23.72 percent less) Sargodha 9,847 (12.07 percent less), Rahimyar Khan 1,135,966 bales (Merely 4.16 percent increase), Bahawalpur 9,60,982 an increase of 34.95 percent, and Bahawalnagar 1,147, 817 an increase of 37.36 percent.

In Sindh: Hyderabad 227,122 bales 9.27 percent less than last year, Mirpur Khas (Thar) 269,832 bales one percent less, Sangarh, 1,229,245 bales 7.83 percent decrease, Nawabshah 327,156 bales (4.65 percent increase), Naushero Feroze 3,36,411 bales (18.84 percent increase), Khairpur 288,872 (9 percent increase) Ghotki 299,919 (3.88 percent increase), Sukkur 532,980 (19.26 percent increase) Dadu 44,227 bsales (25.26 percent increase) Jamshoro 112,036 bales (15.76 percent less), Badeen 27027 bales 14.47 percent less) and Balochistan 75,936 bales (an increase of 32,12 percent). Total 253 ginning factories are operational in the country. About 145 of them in Punjab and 108 in Sindh. Total 1,097,422 bales are lying in unsold stock.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)