Sunday, November 24, 2024

Pakistan Cotton Production Jumps by 71%: PCGA Report

The Pakistan Cotton Ginners Association (PCGA) reported that Pakistan’s cotton production for the 2023-24 reached 8.397 million bales, marking a significant 71% increase compared to the previous year. Despite this notable rise, the production fell short of the targeted figure by 3.873 million bales, representing a shortfall of 32% against expectations.

In terms of regional contributions, Punjab led with a production of 4.282 million bales, while Sindh closely followed with 4.115 million bales. Among districts, Sanghar in Sindh emerged as the top producer with 1.695 million bales, whereas Pakpattan district in Punjab reported the lowest output at 5,240 bales.

According to the PCGA’s report, textile mills purchased 8.043 million bales directly from ginning factories, indicating robust domestic demand. Exporters, meanwhile, procured 2.93 million bales, showcasing Pakistan’s role in the global cotton market. Additionally, approximately 60,500 bales are still in stock at various ginning factories across the country.

Ihsanul Haq, chairman of the Cotton Ginners Forum, noted that Sindh Province exceeded its production target by 114,000 bales, a result attributed to favorable agricultural conditions. In contrast, Punjab faced a challenging season marked by adverse weather conditions and outbreaks of whitefly, severely impacting crop yields.

Ihsanul Haq also highlighted the issue of “off-the-record” trading in cotton, where some ginning factories and textile mills engaged in unofficial transactions due to heavy taxation burdens. He estimated that this unregulated trade involved around two million bales, significantly affecting the official production figures. Consequently, the total estimated domestic production of cotton for Pakistan stands around 10.5 million bales for the 2023-24 season.

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