Cotton Analyst Naseem Usman appreciated the decision of federal cabinet in which they categorically said that the support price of cotton should be fixed after thorough consultations with all the stakeholders in order to encourage farmers to sow more and more cotton as its cultivation has been woefully declining. Prime Minister Imran Khan, who chaired the cabinet's meeting, was in favour of giving subsidies on cotton seed and fertilizer, so that poor growers could be benefited.
Earlier, Naseem said that farmers were very upset with the rejection of the support price by the Economic Coordination Committee. There are conflicting reports regarding cotton sowing. Some people think that cotton sowing is going well while others think that it is not going well. Farmers are demanding that ECC decision regarding announcement of cotton support prices should be reviewed.
Naseem Usman said that Spot Rate remained unchanged at Rs 8600 per maund. The rate of cotton in Sindh and Punjab is in between Rs 7000 to Rs 8600 per maund. The rate of polyester fiber was decreased by Rs 3 per kg and was available at Rs 157 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 12-05-2020
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37.324 kg 8,600 160 8,760 8,760 NIL
Equivalent
40 kgs 9,217 171 9,388 9,388 NIL
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