KARACHI, Jan 4: Higher phutti arrival during last month (Dec 2002) has once again brightened the prospects of achieving the target of over 10.5 million cotton bales.

The phutti flow from fields into ginneries was higher by 0.477 million bales during the month of December 2002, as total arrival stood at 2.018 million bales compared to 1.541 million bales recorded in the same period last season.

Consequently, total cotton output stood higher at 8.736 million bales or 11.25 per cent over the corresponding period of last year when production was recorded at 7.853 million bales.

It was highly remarkable to note that arrival of phutti in the province of Sindh has gained momentum and stood higher by 2.17 per cent over the corresponding period of last year. In total 1.959 million bales have been recorded to have reached the ginneries as against 1.917 million bales recorded in the same period last year.

Similarly, there was improvement in phutti arrival in Punjab, which also assisted in registering higher production figures for the period under review. Arrival figures issued by Pakistan Cotton Ginners’ Association (PCGA) disclose that 6.777 million bales reached the ginneries up to Dec 31, 2002, as against 5.935 million bales in the corresponding period last year.

The ginners are holding higher unsold stock of cotton at 2.181 million bales as against 2.143 million bales held by them in the same period last season.

The textile mills have purchased 6.548 million bales up to Dec 31, 2002, compared to 5.671 million bales lifted by them in the same period last year. The private sector exporters have purchased 45,676 bales compared to 8.989 bales lifted by them last year.

The state owned Trading Corporation of Pakistan (TCP) has not lifted any quantity which indicates that the corporation’s intervention was not required so far.