Cotton Arrivals Up By 77% in A Year

Pakistan’s cotton output has surged by 77 percent year-on-year (YoY), according to the latest fortnightly data released by the Pakistan Cotton Ginner’s Association (PCGA). Until December 31, 2023, 8.17 million bales of cotton were received by ginners, still higher by 3.5 million bales over the 4.6 million bales reported in the same period last year. But ginners estimate only 0.5 million more bales to be produced over the remaining FY24. Production will remain significantly lower by roughly 4.3 million bales for FY24, with a total output of 8.5 million bales expected against the initial and much bigger target of 12.8 million bales. Province-wise breakdown reveals cotton arrivals in Punjab were 4.79 million bales, up 48 percent YoY than SPLY but still ~4 million bales below the initial target. Sindh reported 4.49 million bales, a record 121 percent YoY jump over last year. Textile mills purchased 7.3 million bales of the total yield. Meanwhile, ginners have 0.565 million bales remaining while 0.175 million bales were exported to countries including Indonesia and Vietnam.