Cotton 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
Regards
Team Sis
Any query plz call 9111977771
https://wa.me/919111977775
