RECORDER REPORT

MULTAN: Chairman of All Pakistan Cotton Ginners Association (PCGA) Mukhtar Ahmed Khan Baloch has dispelled the impression that cotton production would be 16.4 million bales describing it miscalculated and over-estimated figure.

In a press statement, Baloch said Pakistan might produce 14 million bales during current season because cotton production increased in 10 districts of the Punjab and eight districts of Sindh province.

Multan district 41.07 percent increase, Lodhran 15.93 percent, Khanewal 2.42 percent, Muzaffargarh 24.94 percent and, Dera Ghazi Khan showed an increase of 56.45 percent, Rajanpur showing an increase of 13.40 percent, Layyah 85.75 percent, Vehari 5.52 short.

He said that total 1,911,867 bales of cotton were lying unsold in the ginneries. Chairman PCGA said that trading activity might pick up in days to come. Reports showing that China imported 141,200 tonnes of cotton in October, down 48.1 percent from the same month last year, the China Cotton Association said on Friday.

Approximately, 9.51 million bales reached the ginneries across the country till November 15, 2013, registering an 11.73 per cent increase as compared to the corresponding period last year. Now, China has started purchasing of cotton.

He advised the ginners to purchase phutti cautiously and keep eye on the market to save themselves from the losses.