KARACHI: The local cotton market on Monday remained stable and trading volume remained low. Cotton Analyst Naseem Usman told Business Recorder the rate of cotton in Sindh is in between Rs 12500 Rs 12700 per maund. The rate of cotton in Punjab is in between Rs 13300 to Rs 13500 per maund.
The rate of new crop of Phutti in Sindh was in between Rs 5200 to Rs 5300 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6600 per 40 Kg. The rate of Banola in Sindh is in between Rs 1700 to Rs 1800 per maund. The rate of Banola in Punjab is in between Rs 1900 to Rs 2000 per maund. The rate of cotton in Balochistan is Rs 12900-13000 per maund. The rate of Phutti in Balochistan is in between Rs 5600 to RS 5700 per maund.
1000 bales of Tando Adam, 1400 bales of Shahdad Pur were sold at Rs 12400 to Rs 12800 per maund, 1400 bales of Sanghar were sold in between Rs 12400 to Rs 12600 per maund, 400 bales of Mir Pur Khas were sold in between Rs 12400 to Rs 12500 per maund, 400 bales of Hyderabad were sold at Rs 2400 per maund, 600 bales of Chichawatni, 200 bales of Mungi Bangla, 200 bales of Samundri and 200 bales of Haroonabad were sold at Rs 13500 per maund.
The sowing of cotton crop in Punjab is on final stages, where as sowing in Sindh has almost been completed.
According to the first estimate report released by Crop Reporting Services Department Punjab, the cultivated area of cotton crop was estimated at Rs 1.279 million hectares which comprises 79.4 % of the tentative target and about 17.3 % less than previous year. Whereas sowing area in Sindh as on July 7th 2021 was registered at 0.592 million hectares which comprises 93 % against the target of 0.640 million hectares and about 3.7 % lower than previous year. Total cultivated area in both provinces is about 1.871 million hectares which indicated 83.2 % against target and about 13,4 % less than last year. According to the available information quality of cotton in both Punjab and Sindh is satisfactory.
Cotton Cooperation of India has increased the prices by Rs 500 per candy. The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 213 per kg.
Copyright Business Recorder, 2021