Ginners are in immense pressure as they are unable to sell cotton seed cake and stock of around five lac bales of cotton due to the continuous lockdown for the past one and a half month due to coronavirus.
Market sources however, stressed their hope that things will start improving in coming days as the government of Sindh has allowed 373 industries to resume their operations out of which majority of them are related to textile industry.
Cotton Analyst Naseem Usman told that sowing season is successfully going on in Punjab and Sindh adding that government has asked the stakeholders that they should share their suggestions for the cotton policy hopefully announced by the government very soon.
He stressed his hope that cotton production will be increased if the weather conditions remains favourable and if there will be no scarcity of water. He said people should pray that cotton crop should save from the attack of locusts.
He said that spot rate remained unchanged at Rs 8800. He also said that although no trading was seen in Binola, however Binola was available in both Sindh and Punjab at the rate of Rs 1600 to Rs 1800 per maund. Sources also said that cotton seed was not available for trading as ginners had all the stock of Binola. The rate of cotton in Sindh and Punjab is in between Rs 7000 to Rs 8800 per maund. The rate of polyester fiber decreased by Rs 7 per kg after decrease in the price of petroleum products and was available at Rs 160 per kg.
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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 28-04-2020
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37.324 kg 8,800 160 8,960 8,960 NIL
Equivalent
40 kgs 9,431 171 9,602 9,602 NIL
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