KARACHI, Nov 19: Higher arrival of phutti by 7.33 per cent during the last fortnight (Nov 1 to 15) has brightened the prospects for larger cotton crop this season (2002-03).

The phutti arrival figures show that around 0.354 million more bales have been produced up to Nov 15, over the corresponding period last year. In total 5.174 million bales have arrived so far as against 4.820 million bales in the same period last year.

It is encouraging that the two major cotton producing provinces — Sindh and Punjab — have shown positive growth in phutti arrival by 3.10 per cent and 8.93 per cent, respectively.

During the period under review arrival of phutti in Punjab stood at 3.817 million bales compared to 3.504 million bales in the corresponding period last year. Similarly, Sindh recorded better arrival at 1.356 million bales as against 1.316 million bales in the same period last year.

There is a remarkable rise in fortnightly (Nov 1-15) arrival of phutti as 1.821 million bales have reached the ginneries compared to 1.544 million in the corresponding period last year. Thus there is an increase of 0.277 million bales during Nov 1 to 15, 2002.

Textile mills remained in the forefront of purchasing raw cotton and lifted around 3.411 million bales as against 3.042 million bales in the same period last year. Whereas TCP is yet to make a debut in the new season. The private exporters purchased 1,887 bales so far.

The higher phutti arrival figures strengthen the theory of larger size crop for the current season that resulted in crashing of raw cotton prices in the local market between Rs200 and Rs300 per 40kg during past week. However, phutti prices somewhat remained stable above Rs900 per 40kg. The official phutti prices fixed at Rs800 per 40kg.

At present 891 ginning units are operating, out of these 720 units are functioning in the Punjab and 171 in Sindh.