KARACHI– Cotton production in the country has recorded a significant increase of 22.61 percent to more than 13.615 million bales till January 31, 2012, despite a decline of 30.33 percent in Sindh due to floods.
According to a consolidated statement of Pakistan Cotton Ginners Association (PCGA), the arrival has recorded a rise of more than 2.855 million bales over last year's 10.76 million.
Punjab produced 11.029 million bales, up by about 49.23 percent over same period last year (7.39 million) while Sindh crop was lower by 30.33 percent to 25.85 million bales over last year's 3.713 million.
Of the total textile mills purchased 11.6 million bales during the period under review while exporters procured 0.724 million bales, leaving an unsold stock of over 1.281 million bales with ginners.
Chairman Karachi Cotton Brokers Forum Naseem Usman while commenting on the production said that country was likely to have a record production of 14.8 million this year.
He pointed out that the highest ever cotton production was recorded at 14.3 million during 2004-5.
Usman hoped that Pakistan is expected to export 1.2 million bales this year, of which 0.8 million bales will be going to India as exporter have already concluded deals. So far 150,000 bales have been exported to India, he added.