Pakistan has produced 11.58 million bales this year, the cotton season started in 2017 and ended on May 1, 2018. During the last cotton season 2016-17 the country was able to produce 10.72 million bales. In the current season, the country produced 8.02 percent more bales as compared to the previous season; however, the previous season was closed earlier April 15, 2017.
According to the final figures released by Pakistan Cotton Ginners Association (PCGA) on Thursday, it was revealed that Punjab contributed the most in producing cotton, Punjab produced 7.32 million bales up from the previous 6.94 bales till April 15, 2017.
Sindh also performed well, the province produced 4.25 million bales, and the production saw a significant change this season as compared to 3.67 million bales during 2016-17.
Textile mills fetched cotton from the market in larger quantities, the industry purchased 11.08 million bales from the local market as compared to 10.25 million bales in 2016-17. The textile industry heavily relies on the local market for cotton because Pakistan produces the finest cotton in the entire region; textile industry only imports lint for finer-count yarn production.
Ginners are currently holding on an unsold stock of 279,894 bales from the current cotton season. During the previous cotton season, ginners held unsold stocks of 265,597 bales.