MULTAN, April 18: The country has produced 12.388 million bales this season, registering a shortfall of 13.65 per cent, says a fortnightly report issued by the Pakistan Cotton Ginners Association here on Tuesday.

According to the report, total arrivals of cotton at the operating ginneries across the country recorded at 12.388 million bales till April 15 compared to the last year’s 14.347 million bales on the same date.

Punjab’s cotton output was recorded at 9.842 million bales compared to the last year’s 11.296 million bales, a shortfall of 12.87 per cent. Production in Sindh stood at 2.545 million bales as against the last year’s 3.050 million bales, a drop of 16.56 per cent.

Textile mill owners have so far purchased 11.326 million bales of lint and exporters bought 74,400 bales. Unsold stocks of lint stood at 0.970 million bales and those of phutti at 0.016 million bales.

The approximate rate of good quality lint at the open market stood at Rs2,400 per maund and that of phutti at Rs1,050 per 40kg.

The government’s support price for phutti (seed-cotton) during the next season has been revised from Rs975 to Rs1,025 per 40kg.—APP