Trading activities on cotton market will resume very soon as the government of Sindh has allowed 373 industries to resume their operations out of which majority of them are related to textile industry.
Market sources said that textile industry had requested the government that they should also allow the textile related sector to resume their operations in the same way as the government had allowed the construction industry and it's allied sector to start their operations.
Sources also said that due to the lockdown ginners were unable to sell their stock of 5 lac bales adding that if the situation improves only two lac bales will be sold and the stock of three lac bales will be left with the ginners which they will sold in the next season.
Cotton Analyst Naseem Usman told that sowing season is successfully going on in Punjab and Sindh.
While criticising the Punjab government he said that they gave estimates of total area of cotton cultivation without any survey. He also said that contrary to the statement of Punjab agriculture minister Malik Noman Ahmad Langrial that this year cotton will be cultivated on 50 lac acres in Punjab the provincial government in a statement said that cotton will be cultivated on 45 lac acres. He raised a question that how 5 lac acres of cotton cultivation area was reduced by government.
Naseem said that according to reports farm lands in Sindh could once again come under a massive attack of locust swarms from Iran by May 15. He however said the government of Sindh has started talking steps to control the attack of locust. The government has identified 30 spots in the province where camps would be established to tackle the issue.
He stressed his hope that cotton production will be increased if the weather conditions remain favourable and if there will be no scarcity of water. He said people should pray that cotton crop should save from the attack of locuts.
He said that spot rate remained unchanged at Rs 8800. He also said that although no trading was seen in Binola, however Binola was available in both Sindh and Punjab at the rate of Rs 1600 to Rs 1800 per maund. Sources also said that cotton seed was not available for trading as ginners had all the stock of Binola. The rate of cotton in Sindh and Punjab is in between Rs 7000 to Rs 8800 per maund. The rate of polyester fiber decreased by Rs 7 per kg after decrease in the price of petroleum products and was available at Rs 160 per kg.
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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 27-04-2020
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37.324 kg 8,800 160 8,960 8,960 NIL
Equivalent
40 kgs 9,431 171 9,602 9,602 NIL
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