Cotton prices stable in international market

MULTAN: Punjab Secretary Agriculture Muhammad Mahmud said on Thursday that cotton price situation in the international market was stable, however, domestic market was witnessing slump that would hopefully be over after Eid.

In a statement issued by media liaison unit of Punjab agriculture department, Mahmud said the government was closely monitoring the cotton price situation in the domestic market.

He admitted cotton prices were low in the domestic market but added that market would witness upward trend after Eid holidays. He reiterated the provincial government's commitment to utilise all resources to ensure that farmers should get Rs 3,000 for a maund of cotton.

Mahmud advised farmers to continue pest scouting, nutrition and pest management to get enhanced crop of better quality.

He said that agriculture department officers and field staff had been told to keep their cell phones on during Eid holidays so that farmers could get guidance from them.

He said all taxes had been waived off on pesticides while taxes on agriculture machinery had been reduced from 17 per cent to only 5 per cent to benefit farmers.

He said subsidy on fertilizers would continue to benefit farmers in future too.

He said prudent policies of the provincial government reduced cost of farming and enhanced agriculture sector's performance by eight per cent.

He said the Punjab government would provide Rs 5,000 per acre subsidy to oil seed farmers to enhance production of edible oil at home so that people had more choices other than imported palm oil.