KARACHI: The local market remained bearish on Friday. Market Sources said that trading volume remained thin. Market Sources said that the rate of cotton is in between Rs 12200 to Rs 13000 per maund.
The rate of new crop of Phutti was in between Rs 5800 to Rs 6000 per 40 kg. The rate of Banola is in between Rs 2000 to Rs 2200 per maund.
Cotton Analyst Naseem Usman told Business Recorder that month of June is very critical for cotton sowing. All the stakeholders should motivate farmers so that they can grow cotton.
Rice sowing planting is increasing in district Ghotki, which is legally ban by provincial government. It has adverse effects on socio-economic and on environment. It will impact the cotton value chain and the soil will become water logged, which directly impacts the gas reservoirs placed at Qadirpur and reduces the pressure when water table becomes up.
Meanwhile, Central Cotton Research Institute Multan organised a one-day training program on "Pink bollworm Management" for the field staff of Agriculture Department Punjab. The participants included 12 from Crop Reporting Service; 19 from Agriculture Extension Department; 11 from Agriculture Secretariat South Punjab; 5 from Adaptive Research and 5 from Pest Warning & Quality Control Punjab. From South Punjab Secretariate Additional Secretary Task Force, Barak Ullah Khan and Additional Secretary Admin Syed Naveed Alam also attended the training program.
Farmers association and cotton growers proposed to the government to fix minimum support price (MSP) for cotton in the range of Rs 5,000 to Rs5,500 per maund.
"We have suggested to the government to fix cotton MSP between the range of Rs 5,000 to Rs 5,500 during a meeting presided over by the Federal Minister for National Food Security, Syed Fakhar Imam," said Pakistan Kissan Ittehad (PKI) President Khalid Mehmood Khokhar, while talking to Business Recorder.
He said that if the government fixed cotton MSP below Rs5,000 per maund then it would not benefit cotton growers because of increase in cost of production of the crop. "Farmers and growers would not accept MSP of cotton less than Rs5000 per maund," he said.
An official said that the meeting was attended by Chairman Trading Cooperation Pakistan (TCP), Managing Director (MD) Pakistan Agricultural Storage and Services Corporation (PASSCO), and the cotton growers. He said that during the meeting, the minister said that the MSP of cotton will be introduced soon.
This is the first time that a minimum support price for cotton will be specified, Imam said. Imam said that time to support cotton should have started when cotton was sowed but at the moment, plant protection can and will be given priority.
The Spot Rate remained unchanged at Rs 12300 per maund. The Polyester Fiber was available at Rs 202 per kg.
Copyright Business Recorder, 2021
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