Strong trend continues in Pakistan's cotton market
The local cotton market remained stable on Tuesday with a marginal improvement in the trading volume. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.
Data collected by the Pakistan Cotton Ginners' Association (PCGA) shows that Pakistan produced 4,912,069 bales of cotton as against 7,441,833 in the 2021-22 season, up 2,528,764 bales or 34 per cent year-on-year, as of March 31, 2023. Losses decline.
The reduced production would eventually lead the textile industry to import around 10 million bales. Mill consumption in the year 2022-23 is also recorded at 8.8m bales, the lowest in 20 years, mainly due to severe import financing issues.
There are reports that textile mills have signed import agreements for 5.5 million bales so far, while they have procured 4,605,449 bales from the local market. Last year, mills had procured 7,332,000 bales from the domestic market. According to ginners, they still have a stock of 301,720 bales as against last year's 93,833 bales.
Interestingly, despite strong demand in the international markets, only 4,900 bales of white lint could be exported this year as against last year's figure of 11,000 bales, a drop of over 69 per cent. Province-wise, Punjab reported a year-on-year decline of over 32 per cent in production as it produced 3,033,050 bales this season as against 3,928,690 bales in the previous season.
The spot rate remained unchanged at Rs 19,000 per head. The rate of polyester fiber was increased by Rs 10 and was available at Rs 373 per kg.
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https://smartinfoindia.com/hi/news-details-hindi/Tajikisan-bci-sustainable-cotton-production-mou
