Cotton arrivals in Pakistan increased by 66.5% on August 1 compared to July 15, according to the latest weekly data issued by the Pakistan Cotton Ginners Association (PCGA) on Thursday.
According to the data, overall cotton arrivals in Pakistan increased by 0.571 million bales to 1.429 million bales on August 1 from 0.858 million bales on July 15, 2023.
A year-on-year comparison was not possible because data was not obtained on August 1, 2022, according to PCGA.
Last year, severe floods in Pakistan destroyed massive swaths of agricultural land, particularly in Sindh and Balochistan.
The increase in cotton arrivals, a critical raw material for the textile industry, is welcome news for Pakistan’s cash-strapped economy.
According to PCGA data, cotton arrivals from Punjab increased significantly.
Cotton arrivals in Punjab were 0.389 million bales on August 1, 2023, up from 0.199 million bales on July 15, 2023, a 95.4% increase.
Similarly, cotton arrival in Sindh was 1.040 million bales, up from 0.659 million bales in July, representing a 57.8% rise.
Pakistan’s textile sector exports fell 15% in July 2023 to $1.31 billion, compared to $1.54 billion in the same period the previous year.
According to the most recent All Pakistan Textile Mills Association (APTMA) figures, the country’s textile exports during the first seven months (January-July) of the calendar year 2023 totaled $9.09 billion, a 21% decrease from the $11.48 billion reported in January-July 2022.
Last month, the PCGA urged that the government develop a clear strategy for purchasing cotton and oil at government-set prices, as well as promptly eliminate the illegal tax on Banola (cotton plant) and solve the electricity crisis.
At the time, it was unanimously determined in the conference that cotton growers would suspend cotton purchases throughout Pakistan.
