Cotton arrival in Pakistan declines 34.5pc YoY
Business
The decline in cotton arrival is attributed to the flash floods in Pakistan
LAHORE (Web Desk) - Cotton arrival in Pakistan dipped 34.5 per cent year-on-year to 4.875 million bales as of March 1, 2023.
Data released by the Pakistan Cotton Ginner's Association (PCGA) on Friday revealed that total cotton arrival in Pakistan declined to 4.875 million bales as of March 1, compared to 7.442 million bales in the same period last year, a fall of 2.567 million bales or 34.5pc.
The decline in cotton arrival is attributed to the flash floods that devastated large swathes of agricultural land in the country, especially in Sindh and Balochistan.
Per the PCGA data, cotton arrival reported a steep decline from Sindh. As of March 1, cotton arrival in Sindh was 1.879 million bales compared to 3.513 million bales in the same period in 2021, a decrease of 1.664 million bales or 46.5%.
On a monthly basis, cotton arrival remained stagnant with an improvement of 0.5% as compared to 1.871 million bales arrived on February 1.
Similarly, cotton arrival in Punjab clocked in at 2.996 million bales as compared to 3.929 million bales reported in the same period last year, a decline of 23.7%. However, on a monthly basis, cotton arrival recorded a marginal increase of 3.6% as compared to 2.893 million bales arrived on February 1.
Industrialists have expressed concern over the ongoing slump in the textile sector.
