12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Cotton and Textiles: Pakistan

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Pakistan Cotton Ginners Association (PCGA) has issued the figures of cotton arrival up to December 1st, 2016. Seed cotton (Phutti) equivalent to over 9,778,451 bales of cotton have reached ginneries across Pakistan as of November 15, showing an increase of 13.28 per cent compared to corresponding period last year when ginneries received 8,631,933 bales.
Volume of business came down on the cotton market on Saturday following the better-than-expected Pakistan Cotton Ginners Association (PCGA) fortnightly report, dealers said. The official spot rate was unchanged at Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600 and Rs 3300, they said, in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.
Firmness persisted on the cotton market on Friday as buyers remained in the forefront of buying spree to replenish their stock, dealers said. The official spot rate was unchanged at Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600-3300, they said that in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.
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Federal Minister for Commerce Khurram Dastgir Khan Thursday said that despite diplomatic tension between Pakistan and India trade regime has not been changed. "The government is working to make every input items, including machinery import, zero rated for export sector from the next fiscal year while the proposed package for exports-oriented sector is still in field and may be announced anytime soon," the minister said while briefing the Senate Standing committee on Textile Industry which met with Mohsin Aziz in the chair.
Mills renewed buying helped rates to keep firmness on the cotton market on Thursday in the process of trading, dealers said. The official spot rate was higher by Rs 50 to Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600-3300, they said that in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.
Prices of seed cotton (Kapas/Phutti) and lint are tightening as the current crop (August 2016/July 2017) supply is dwindling gradually and the ensuing cotton deliveries are likely to suffer quality problems increasingly. According to one estimate, about 10 million bales (155 Kgs) may have arrived by the end of November 2016 and another 1.5 million bales may arrive till the end of the current season.