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Pakistan: Cotton market: Strong trend amid modest trading activitiesLAHORE: The local cotton market remained stable on Monday with low trading volume.Cotton analyst Naseem Usman said that the cotton rate in Sindh is Rs 18,500 to Rs 19,000 per maund. The rate of footi in Sindh is between Rs 8,000 to Rs 9,000 per 40 kg. The rate of cotton in Punjab is between Rs 19,000 to Rs 19,500 per maund and the rate of cotton in Punjab is between Rs 8,000 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is between Rs 18,500 to Rs 19,000 per maund while the rate of cotton is between Rs 8,500 to Rs 9,500 per 40 kg.About 600 bales of Saleh Pat, 400 bales of Rasulabad were sold at Rs 18,700 per maund, 1000 bales of Tando Edam were sold at Rs 18,000 to Rs 18,500 per maund, 600 bales of Shahdad Pur were sold at the rate of Rs 18,300 to Rs 18,500 per maund. Maund, 400 bales of Tunsa Sharif were sold at Rs 19,200 per maund, 1800 bales of Laiya were sold at Rs 19,100 to Rs 19,500 per maund, 600 bales of Raj N Pur were sold at Rs 19,200 per maund, 200 bales of Donga Bonga, 200 bales of Mianwali were sold at Rs 19,500 per maund, 200 bales of Chichawatni were sold at Rs 19,400 per maund and 600 bales of Dera Ghazi Khan were sold at Rs 19,500 per maund.Pakistan Cotton Ginners Association has released the figures of cotton production in the country till September 15, according to which during this period, cotton production in the country was 39 lakh 34 thousand bales as compared to 17 lakh 47 thousand bales, which is about 80 percent more. Compared to the same period last year.Spot rate remained unchanged at Rs 19,000 per maund. Polyester fiber rate increased by Rs 5

Sensex closed with a huge fall of 242 pointsToday the stock market closed with a decline. Today the Sensex fell by about 241.79 points and closed at the level of 67596.84 points. Whereas Nifty closed at the level of 20133.30 points with a fall of 59.00 points.In the evening, the rupee closed at Rs 83.27 against the dollar with a weakness of 8 paise.

Pakistan Weekly Cotton Review: Spot rate rises amid whitefly challengeCotton prices remained stable last week. Spot rate increased by Rs 1,000 per maund. The deadly attack of white fly on the cotton crop is being described as worrying, as the crop is likely to be badly affected. Government officials and agricultural experts are actively working to combat the whitefly attack. Helicopters and drones are being used for spraying.Textile sector exports are seeing a decline while cotton production is expected to increase by 70%.There was a decrease in the arrival of cotton in the local cotton market last week. The arrival of cotton is also less because farmers are demanding higher prices for cotton. Another major reason is the attack of the dreaded whitefly on the cotton crop and relatively low crop yield due to high temperatures.Due to these reasons the price of cotton remained stable. Due to such reports, textile spinners are cautiously purchasing cotton.According to the information received from cotton producing areas, there is a strong attack of white fly on the cotton crop. Due to which, according to experts, cotton production will be less than estimated.It has been seen for many years that the month of September proves fatal for the cotton crop. This year too, the month of September is showing its cruelty and is having a bad effect on the crop.However, rain is expected next week and if weather conditions improve, the impact of whitefly attack will be partially reduced.Punjab's interim Chief Minister Mohsin Naqvi, interim provincial minister SM Tanveer, APTMA and other agriculture experts are actively working to protect the cotton crop from whitefly.Cotton rates in Sindh range between Rs 18,500 and Rs 19,000 per maund. The rate of footi is between Rs 8,000 to Rs 9,000 per 40 kg. Cotton rates in Punjab range between Rs 19,000 to Rs 19,500 per maund while cotton rates range between Rs 8,500 to Rs 9,300 per 40 kg. In Balochistan, cotton rate is between Rs 18,500 to Rs 18,800 per maund and cotton rate is between Rs 8,500 to Rs 9,300 per 40 kg. There is a bearish trend in the prices of cottonseed and oil.The Spot Rate Committee of Karachi Cotton Association increased the spot rate by Rs 1,000 per maund and closed it at Rs 19,000 per maund.Haq held the weather department responsible for the weather-related losses suffered by the agriculture sector over the past several years due to lack of timely and accurate forecasting.He says that due to global warming, meteorological departments around the world have been significantly upgraded in the last few years so that timely and accurate weather forecasting of the rapidly changing climate can protect crops and the environment from maximum adverse effects. But in Pakistan, he lamented, the department's equipment was not upgraded and instead it was transformed into a climate change ministry, which could not have any positive impact on Pakistan's agriculture.The federal and provincial governments had declared 2023-24 as the Cotton Year and their efforts were expected to lead to a record production of 10 million bales of cotton this year.According to reports, the weather is becoming mild and it is raining in many areas. It is expected that it will prove beneficial in controlling white fly attack.Meanwhile, the cotton production figure till September 15 is expected to be around 3.8 million bales, which is around 1.6 million bales higher than the production of 2.2 million bales in the same period last year.Copyright Business Recorder, 2023

Rain, winds dash Muktsar cotton farmers’ hopesThe rain accompanied by speedy winds on Friday caused a massive loss to a large number of cotton growers in the region. Cotton plants, which were standing nearly eight feet tall, have fallen flat on the soil.The farmers are claiming that it will cause them a massive loss. “We were expecting a bumper crop of 17 qtl per acre and the plants were also standing tall. However, the rain yesterday dashed our hopes. We have already spent nearly Rs 30,000 on per acre of cotton crop, including the expenses on seed, pesticides, labour, diesel, etc. The state government should help us in this hour of need,” said farmer Gurdeep Singh of Daula village in Gidderbaha block of Muktsar district, who has sown cotton crop on seven acres.He added, “A cotton plant is sensitive and it can’t stand again with sunshine. Just a few farmers had done the first picking of the crop. The cotton crop is usually picked in three rounds, which lasts till mid-November.”Gurdeep further said the situation was almost similar in neighbouring Balluana village of Bathinda district. Meanwhile, similar reports were coming from Abohar area in Fazilka district.Gaurav Kumar, a commission agent from Abohar, said, “A number of farmers were yet to start cotton picking. The rain at this stage has caused massive loss to them.”Meanwhile, Gurpreet Singh, Chief Agriculture Officer, Muktsar, said, “The cotton crop got damaged in some parts of the district due to yesterday’s rain and wind. Farmers from Malout and Gidderbaha subdivisions have informed us about the losses. However, the situation is normal in Muktsar subdivision. Earlier, we were worried that the cotton crop was drying due to hot weather. Even the canal closure had created a problem for the cotton growers.”He added, “The rain has, however, given some respite to the paddy growers, especially those who had sown its late varieties.”Meanwhile, some farmers claimed that the growing sugarcane crop too had got damaged in some parts of the district.Some kinnow growers from Abohar in Fazilka district said yesterday’s rain and wind may impact the quality of the fruit as well.Tribune News Service

Rupee opens 10 paise higher at 83.09 against the US dollarThe Indian rupee opened 10 paise higher against the US dollar on Monday. The local unit opened at 83.09 a dollar as against Friday’s close of 83.19.Heavy fall in stock market, Sensex opened with a fall of 243 points.Today started with a decline in the stock market. Today BSE Sensex opened with a fall of 242.91 points at the level of 67595.72 points. Whereas NSE's Nifty opened with a fall of 63.50 points at the level of 20128.80 points.

This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 16 paise.Sensex rose, closed 320 points higherToday the stock market closed with a rise. Today Sensex closed at 67838.63 points with a rise of 319.63 points. Whereas Nifty closed at the level of 20192.30 points with a gain of 89.20 points.

Pakistan: Good business in cotton marketLAHORE: The local cotton market remained stable on Thursday and the trading volume was satisfactory. Cotton analyst Naseem Usman said that the cotton rate in Sindh is Rs 18,500 to Rs 19,000 per maund. The rate of footi in Sindh is between Rs 8,000 to Rs 9,000 per 40 kg.The rate of cotton in Punjab is between Rs 19,000 to Rs 19,500 per maund and the rate of cotton in Punjab is between Rs 8,000 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is between Rs 18,500 to Rs 19,000 per maund while the rate of cotton is between Rs 8,500 to Rs 9,500 per 40 kg.About 2400 bales of Saleh Pat, 1600 bales of Rohri were sold at Rs 18,800 to Rs 19,000 per maund, 2000 bales of Khair Pur were sold at Rs 18,700 to Rs 19,000 per maund, 600 bales of Halari were sold at Rs 18,700 to Rs 18,700 per maund. Sold at the rate of Rs per maund. At Rs 18,800 per maund, 600 bales of Akari were sold at Rs 18,700 to Rs 19,000 per maund, 800 bales of Rasool Abad were sold at Rs 18,700 to Rs 18,800 per maund, 800 bales of Nawab Shah, 600 bales of Hyderabad, 1400 bales of Sanghar were sold. 18,000 to Rs 18,400 per maund, 3400 bales of Tando Adam were sold at Rs 18,000 to 18,500 per maund, 800 bales of Sui Gas were sold at Rs 18,800 per maund, 600 bales of Tando Muhammad Khan were sold at Rs 18,000 per maund. 18,300 per maund, 1200 bales of Mehraab Pur were sold at Rs 18,000 to Rs 18,700 per maund, 800 bales of Rani Pur were sold at Rs 18,500 per maund, 800 bales of Yajman Mandi were sold at Rs 19,500 per maund, 400 bales of Bahwal were sold at Rs. Pur was sold at Rs 19,000 to Rs 19,500 per maund, 100 bales of Chishtian were sold at Rs 19,500 per maund, 3200 bales of Harunabad were sold at Rs 19,200 to Rs 19,500 per maund, 600 bales of Chichawatni were sold at Rs 19,650 per maund. 1600 bales of Mian Wali were sold at Rs 19,000 per maund, 1800 bales of Fort Abbas were sold at Rs 19,300 to Rs 19,500 per maund, 1800 bales of Layya were sold at Rs 19,000 to Rs 19,500 per maund, 800 bales were sold at Rs 19,000 to Rs 19,500 per maund. Samundri was sold at Rs 19,000 per maund, Fakir Wali 400 bales, Vehari 800 bales at Rs 19,500 per maund and Shujabad 200 bales were sold at Rs 19,200 per maund.Spot rate remained unchanged at Rs 19,000 per maund. Polyester fiber was available at Rs 378 per kg.

 Rupee opens marginally lower at 83.05 against the US dollarThe Indian rupee opened 2 paise lower against the US dollar on Friday weighed down by a stronger American currency overseas and rising crude oil prices. The local currency opened at 83.05 a dollar as against previous close of 83.03.Stock market rises further, Sensex opens above 11 points Today the stock market started with a rise. Today BSE Sensex opened at 67659.91 points with a gain of about 140.91 points. Whereas NSE's Nifty opened at the level of 20163.70 points with a gain of 60.60 points.

This evening, the rupee closed at Rs 83.03 against the dollar with a weakness of 5 paise.Sensex still up today, closed 52 points higherToday the stock market closed with a rise. Today Sensex closed at 67519.00 points with a gain of about 52.01 points. Whereas Nifty closed at the level of 20103.10 points with a gain of 33.10 points.

On first harvest of cotton in Punjab, price of Rs 7,400 per quintal is higher than MSP.The minimum support price (MSP) for long staple is Rs 7,020 per quintal.There is joy for cotton growers as from the first harvest of the crop they are getting more than the Minimum Support Price (MSP) in the cotton belt of Punjab so far. However, all the buyers are private players as the Cotton Corporation of India (CCI) has not yet purchased anything from the mandis.On Wednesday, cotton rates in the mandis of Fazilka, Muktsar, Bathinda and Mansa were between Rs 7,400 and Rs 7,600 per quintal against the MSP of medium-sized cotton at Rs 6,620 per quintal, while in the neighboring Ganganagar district of Rajasthan the price was Rs 8,000 per quintal. It was more than a quintal.“There is a threat of pink bollworm but it is under control now. Therefore, the first picking of cotton has received a good response. We hope that in future also the crop will be protected from pest attack and the rate will further increase,” said Gurmeet Singh Cheema, chief agriculture officer, Fazilka, while speaking to The Indian Express.It is noteworthy that the area under cotton in Punjab has significantly reduced to 1.75 lakh hectares as compared to 2.48 lakh hectares last year and hence, the production on the basis of area under cotton cultivation will ultimately be less. Bathinda, Mansa, Muktsar and Fazilka are the major cotton growing districts which grow about 95% of the cotton in the state. A portion of this cash crop is also grown in Faridkot, Barnala, Sangrur and Moga.“Where crops have been affected by pink caterpillar, farmers are using sprays. The first picking of cotton has just taken place. We hope the second, third and fourth choices will be equally good.”So far, about 30,000 quintals of the crop have arrived in the markets of the cotton belt. The arrival of cotton started from the last week of August and it is likely to be procured in the coming fortnight.“In the initial days, some cotton stock was even sold at Rs 6,400 per quintal, but eventually the prices improved,” said Jaswinder Singh, arhtiya (middleman) of Abohar cotton market. Jetinder Mohan Garg, president of the Kachcha Arhtiya Association of Bareta Mandi, said the rate for the medium staple in Mansa's Bareta Mandi on Wednesday was Rs 7,400 per quintal.Mansa Chief Agriculture Officer Dilbag Singh said, “This year the area under cotton was 25,890 hectares and so far around 10,000 quintals of cotton has arrived in the markets. At present the rates are satisfactory.Hasan Singh said, in Muktsar, the total arrival of cotton this season is around 3,500 quintals as the area under cotton has reduced significantly, while in Bathinda, around 7,600 quintals of cotton has reached the mandis in the first harvest, whereas last year it was 3,500. It was quintal. , Chief Agriculture Officer, Bathinda.Cotton rates in Muktsar mandis were between Rs 7,400 and Rs 7,570 per quintal, while in Abohar and Fazilka rates were between Rs 7,400 and Rs 7,600 per quintal, a mandi board official said. Fazilka has the highest area under cotton at 92,000 hectares.“Cotton was sold at Rs 8,005 per quintal in the mandis of Ganganagar. Ganganagar of Rajasthan is the neighboring city of Abohar. But, till now farmers are selling only in the mandis of Punjab,” said Darshan Singh of Gidranwali village (Abohar). “If pink bollworm is kept away, or controlled by spray, cotton prices can reach Rs 10,000 per quintal this season,” said Jatinder Mohan Garg.

Rupee opens marginally higher at 82.97 against the US dollarThe Indian rupee opened 2 paise higher against the US dollar on Thursday amid a steady greenback after the higher-than-expected US inflation data. The local currency opened at 82.97 a dollar as compared to previous close of 82.99.Stock market regained momentum, Sensex opened 185 points higherToday the stock market started with a rise. Today BSE Sensex opened at 67651.58 points with a gain of 184.59 points. Whereas NSE's Nifty opened at the level of 20127.80 points with a gain of 57.80 points.