KARACHI, Feb 6: Despite the fact that there had been improved flow of phutti during last fortnight (Jan 15 to Feb 1) but cotton production remained lesser by 0.74 per cent at 11.929 million bales compared to corresponding period last year when 12.017 million bales were produced.
The only silver-lining which is keeping a hope that the country would be producing little over 12 million bales is the higher arrival of phutti from Punjab cotton fields where arrival remained 1.41 per cent higher at 9.672 million bales as against 9.537 million bales recorded in the same period last year.
The last fortnightly phutti arrivals were fairly higher which helped to off set the negative impact being developed by slower arrival of phutti from Sindh cotton fields which remained in negative by 9.03 per cent at 2.255 million bales as against 2.480 million bales registered in the corresponding period last year.
According to cotton analysts the country may produce little over 12 million bales, a huge shortfall of around 3 million bales to meet the spinning industry’s expanded capacity. The surge in cotton prices in the domestic market is a strong indicator that there would be wide gap between demand and supply of the cotton.
The official figures of phutti arrivals for the last fortnight revealed that in Punjab 536 ginning factories were still operating, which indicates that lesser phutti remains to be picked from the fields because during the same period last year 575 units were functioning.
However, it is strange that in Sindh where phutti arrivals were much slow, around 76 ginning factories were working compared to 56 units in the same period last year.
During the fortnight 16,037 more bales were produced at 372,816 bales as against 356,779 bales recorded in the same period last year. Due to higher off-take by spinning mills unsold stocks lying with ginners were lesser at 1.739 million bales compared to 2.277 million bales the same period last year.
The textile mills purchased over 10.104 million bales so far as against 9.669 million bales lifted by them in the same period last year. However, private exporters have purchased nominal stocks at 83,931 bales compared to 70,400 bales a year ago.