KARACHI, April 5: The raw cotton production has surpassed last year's output by 71,606 bales at 9,750,007 bales as per phutti arrival figures received up to April 1, 2004.
Higher arrivals of phutti in Punjab during period under review helped increase cotton output where 169,099 more bales were produced. In total, 7,626,564 bales have been produced in Punjab as against 7,457,465 bales recorded in the same period last year.
However, cotton production in Sindh declined by 97,493 bales over the previous year. In total, 2,123,443 bales have been produced up to April 1 compared to 2,220,936 bales in the corresponding period last year.
According to production figures released by the Pakistan Cotton Ginners' Association (PCGA), textile mills purchased 8,340,109 bales during this period as against 8,884,215 bales last year.
Private sector exporters lifted 178,637 bales up to April 1 compared to 137,782 bales in the corresponding period last year. Nevertheless, ginners are presently holding larger stocks of 1,231,361 bales of unsold cotton as against 676,404 bales held by them in the same period a year ago.
