Karachi: The cotton market is in a bullish trend. To keep cotton prices stable, the Trading Corporation of Pakistan (TCP) will buy cotton at a rate fixed by the government. APTMA has demanded the government to fix electricity rates separately for export industries.
Separately, the Lahore High Court (LHC) has set aside the textile sector's stay order on energy charges.
The local cotton market saw an increase of Rs 400 per head in the price of cotton last week. Textile mills continued to buy cotton, while ginners also continued to sell cotton in large quantities due to a better supply of footy. As a result, the business volume improved significantly.
Although the government has asked the ginners to buy cotton from cotton farmers at the rate of Rs 8,500 per 40 kg, but the ginners say that if the government takes cotton and cottonseed from them at this rate, they will intervene to buy from the farmers. Are ready. rate announced by the government.
At present, there is positive news regarding cotton production. In the first picking itself, 15 to 20 maunds of flowers are being harvested per acre. Looking at this, it can be said that if the weather conditions are favourable, then the production of cotton will exceed one crore bales.
The rate of cotton in Sindh is between Rs 17,200 to Rs 17,400 per head. The rate of footi is between Rs 7,000 to Rs 7,400 per 40 kg. The rate of cotton in Punjab is between Rs 17,600 to Rs 17,800 per head, while the rate of foot is between Rs 7,200 to Rs 8,300 per 40 kg. Cotton rates in Balochistan range from Rs 17,200 to Rs 17,300 per head and cotton between Rs 7,200 to Rs 7,700 per 40 kg. The prices of cottonseed, khal and oil are relatively stable. The spot rate committee of the Karachi Cotton Association kept the rate of cotton unchanged at Rs 17,000 per head.
Naseem Usman, president of the Karachi Cotton Brokers Forum, said that the price of cotton remained stable in the international cotton market. According to the USDA's weekly export and sales report for the year 2022-23, 23,100 bales were sold.
Bangladesh topped the list by purchasing 18, 200 bales. Vietnam was second with 5,600 bales. Honduras was third with 3,200 bales. Taiwan bought 2,000 bales and ranked fourth. Turkey bought 1,900 bales and ranked fifth. Pakistan bought 6,600 bales and ranked sixth. 51,000 bales were sold for the year 2023-24. China topped the list by purchasing 36,000 bales. Honduras was second with 9,800 bales. Pakistan bought 2,500 bales and stood third.
The meeting was also informed that 28 ginning factories are functioning in Multan division, and harvesting of early sown cotton is underway. The secretary directed all the ginning factories to make daily reports of cotton arrivals, stock position and quality of the crop in their factories.
DG Agriculture (Pest Alert) Punjab Rana Fakir Ahmed said the overall health of the cotton crop was good in Multan division but whitefly attack was observed in Khanewal, Miyan Channu and Vehari, while thrips attack was observed in Lodhran . However, the attack was still below the economic threshold.
With regard to energy tariffs, Pakistan competes with mills in India, Bangladesh and Vietnam for the export of textile products. Now the cost of one unit of electricity in these countries is only 7 to 9 cents.
The textile industry has asked the government to allocate a separate power tariff category for the export industry, barring cross-subsidies, stranded costs and increased system losses, to achieve the export target of $50 billion in the next 4 years.
Sajid Mehmood said, the action plan to revolutionize the agriculture sector under the leadership of the army and to reform the agriculture sector on modern lines by moving away from the traditional methods of farming is wonderful, which will prove to be an important milestone in the country's economy. Head of Agricultural Technology Transfer Department, Central Cotton Research Institute, Multan said in his statement.
The commencement of work on several projects using new agricultural technology will be a very welcome milestone for the development of agriculture and will also increase productivity.
According to the report, 44 lakh acres of land has been identified across the country for the implementation of agriculture projects. In this, 13 lakh acres are in Punjab, 13 lakh acres in Sindh, 11 lakh acres in Khyber Pakhtunkhwa, while 7 lakh acres are in Balochistan. While in Punjab eight lakh twenty four thousand seven hundred and twenty eight acres of land has been digitized, on which modern farming is to be done. This will increase the yield of cotton like other agricultural products.
Regards
Team Sis
Any query plz call 9111977771
https://wa.me/919111977775
