MULTAN,April 3rd: Pakistan Cotton Ginners Association (PCGA) released its fortnightly report reveals that around 11.607 million cotton bales have been sourced to the country’s ginneries by April 1,2011.As revealed by the report, there has been a 8.53 percent fall in the quantum of cotton reaching the ginneries by April1st, as compared to the 12.689 million bales of cotton that reached the ginneries during the same period last year.While 10.831 million cotton bales were sold to the textile units, exporters bought some 7,95,648 bales. Thus, overall 11.365 million bales have been traded till now, without TCP participating in the trading activity so far. There are 2,41,680 bales which still remain to be sold.Chairman of PCGA Masood A Majeed and Vice Chairman Shehzad Ali Khan has said that shortfall of cotton arrival was merely 8.53 percent. He said total 1,16,07,577 bales of cotton were received during this season. It was 10,82,307 bales less than last year showing a decline of 8.53 percent in the production due to flood, diseases and pest attacks.While 32,660 bales were received during last fortnight from March 16th to April Ist, 2011. He said that total 36 ginning factories are operational in Sindh and Punjab. Recent floods had badly hit the cotton crop in the districts of Muzaffargarh, Layyah, Rajanpur, Rahimyarkhan Multan and Dera Ghazi Khan. They said that 37.77 percent cotton was destroyed in Muzaffargarh, 56.43 percent in Rajanpur, 7.14 percent in Dera Ghazi Khan, 12.79 in Jhang, 19.12 percent in Hyderabad and 23.30 percent in Ghotki. Cotton production in the country has declined by 8.53 percent as the arrivals recorded at the ginneries as on April Ist, 2011 stood at 1,16,07,577 bales, showing a decrease of 9.12 percent from 1,26,89,884 bales received in the corresponding period of last year.The report reveals an increase of 25.30 percent in cotton in Lodhran district, 126.12 percent increase in Mianwali district, and 9.46 percent increase in Balochistan. The unsold stock is 2,41680 bales which is more than last year, when unsold stock was 2,13,859 Chairman of Pakistan Cotton Ginners Association (PCGA), Masood A Majeed briefed reporters about the fortnightly report.Punjab contributed 78,13,659 bales, last year it contributed 84,57,299 bales showing a decline of 7.61 percent, Similarly Sindh contributed 37,93,918 bales against the last year production of 42,32,585 bales showing a decrease of 10.36 percent and Balochistan 24,118 bales to take the total to 1,13,81,291 bales.District-wise production data showed that Multan contributed 4,34,193 bales, Lodhran 2,54,130 bales, Khanewal 7,52,699 bales, Muzaffargarh 2,40,008 bales, Dera Ghazi Khan 3,04,927 bales, Rajanpur 2,02,308 bales, Layyah 1,79,554 bales, Vehari 7,79,746 bales, Sahiwal 5,42,008 bales, Pakpattan 2,69,620 bales, Okara 52,600 bales, Kasur 8,200 bales, Toba Tek Singh 2,78,146 bales, Faisalabad 1,16,400 bales, Jhang 1,57,511 bales, Mianwali 1,73,714 bales, Bhakkar 94,226 bales, Sargodha 41,052, Rahim Yar Khan 10,55,885 bales, Bahawalpur 8,90,837 bales, and Bahawalnagar 9,86,595 bales.Sindh's district-wise production figures were: Hyderabad 3,62,675 bales, Mirpurkhas 4,07,461 bales, Sanghar 15,99,526 bales, Nawabshah 3,49,168 bales, Naushero Feroze 1,94,458 bales, Khairpur 2,08,542 bales, Ghotki 2,20,323 bales, Sukkur 3,08,770 bales, and Dadu 1,18,877 bales.Balochistan added 24,118 bales to the total. The arrivals figures recorded so far are the lowest Pakistan ever had. PCGA claimed that 2 million bales were destroyed in recent floods in Punjab and Sindh. Policy-makers may hope that bumper cotton crop will help the government make deficiency in other areas, taking the annual growth rates to over 7 percent.The chairman PCGA reiterated demand to the government to announce relief and bail out package for cotton ginning factories of flood-hit areas . The report said that the ginners pressed 1,16,02,802 bales. Only 4,45,349 bales were exported by commercial exporters (who mostly purchased from Sindh), and merely 89,493 bales were purchased from Punjab. The textile industry purchased 1,08,31,055 bales and 2,41,680 bales were available with ginners as unsold stock.They told that cotton trading remained firm amid strong physical price and higher cottonseed prices. The KCA spot rate remained intact at Rs 12,000 per maund while physical prices remained strong on the back of fine lint growing demand above Rs 13,500 per maund, they said.The leading spinning and mills units in Punjab bought fine stocks on competitive prices while spinning sector in Sindh stations bought lint of all grades, they added.The cottonseed supply in Punjab remained under the growers’ will as its prices hit a record high to Rs 5,800 per maund, they said.Shehzad Ali Khan said the prices in lint market were still strong and were heading towards high on depleting stocks in Punjab and Sindh stations.Ahmad said the global lint prices were also on the higher side due to forward dealing in New York Cotton Market, growing demand for cloth and Indian ban on lint exports.He said all grades of lint were fetching better prices above Rs 13,00 per maund and Rs 13,600 per maund respectively.Leading textile and spinning units with ample stocks in the country were buying lint on higher price as they had stocks which were bought earlier for Rs 9,000 to 9,500 per maund.He said some spinning units in Sindh bought all grades for blending purposes, as they have to fulfill local as well foreign demand of yarn.The New York Cotton Market March Futures remained on the high mood as March Futures crossed 211 cents per pound and May also closed nearly 210 cents per pound, he added. Cotlook A Index closed at 217 cents per pound.Shehzad Ali Khan said trading in Punjab remained under price pressure where 10,000 bales changed hands while leading mills and spinning units also made some forward deals on a month credit basis above Rs 13,600 per maund.Majority of the deals in Punjab took place at Rs 12,800 per maund to Rs 13,200 per maund depending on grade during the trading session.The deals in upper Sindh changed hands above Rs 12,400 per maund while in Punjab buyers remained volume leaders and made around 80 percent of the total deals to 12,200 bales during the trading session. The private sector commercial exporters purchased fine lint on limited quantity on wake of its paucity and increase in demand in near future.
