KARACHI: The Spot Rate Committee of Karachi Cotton Association decreased the spot rate by Rs 100 per maund and closed it at Rs 8400 per maund.
Market sources told that reason behind the decreasing of spot rate is deal of 1229 bales of low quality cotton at low price of Rs 5400 per maund.
Cotton Analyst Naseem Usman told that internationally cotton prices are increasing. He stressed his hope that trading will fully resume on cotton market from June 15.
He said that ginners had announced that they will not resume their operations until the government accept their demands.
Pakistan Cotton Ginners Association has demanded from the government they should provide them relief in the upcoming budget by accepting their demands including relief on the sales tax on Khal and buying of stock of 5 lac bales through Trading Corporation of Pakistan.
Cotton Analyst Naseem Usman told that cotton crop is facing severe threat of locust attack. He said that Plant Protection Department of Government of Sindh is working on saving the cotton crop from the attack of Locust. He urged that both provincial and federal governments should work together to save the cotton crop from the Locust attack.
Naseem said that there are reports that condition of cotton crop in Lower Sindh is satisfactory but there are chances of severe attack of locust in Upper Sindh and Punjab.
Naseem told that Farmers Advisory Committee (FAC) issued a set of guidelines for cotton farmers applicable till June 15. Chaired by Central Cotton Research Institute (CCRI) director Multan, Dr Zahid Mahmood, the third FAC meeting noted that 90 percent of the cotton sowing has been completed in Sindh and Punjab and those yet to sow cotton were advised to maintain number of plants at 23000-35000 per acre and apply 8-10 kilogram seed per acre.
FAC experts recommended plant-to-plant distance at 6-9 inches while row-to-row distance at 2.5 feet, says a release issued by CCRI Multan spokesman Sajid Mahmood.
Farmers were further advised not to apply fertilizers during land preparation and instead do it after the diseased or weaker plants are removed.
Registered and certified seed should be applied after application of some suitable pesticides.
Farmers should apply a bag of SOP per acre in sandy areas, areas water-fed by tube wells or soil deficient in Potash, and where crop has entered flower or budding stage.
Dr Zahid said farmers should select the time of sowing and water application in accordance with weather conditions. Post-rain weeds must be removed at the earliest to avoid 30-50 percent potential production losses.
April sown crop in case of facing Thrips or Aphid attack beyond economic threshold level (ETL) then farmers should apply suitable pesticides after consulting agriculture officers.
A survey conducted by CCRI Multan showed pink bollworm attack in some areas where crop was passing through fruit stage.
To address this problem, farmers should apply 100-120ml Spinetoram in 100 litres of water per acre.
Naseem Usman said that Spot Rate Committee of Karachi Cotton Association decreased the spot rate by Rs 100 per maund and closed it at Rs 8400 per maund. The rate of cotton in Sindh and Punjab is in between Rs 6500 to Rs 8400 per maund. The polyester fiber was available at Rs 155 per kg.
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