KARACHI: The Spot Rate on Monday remained unchanged at Rs 16,700 per maund. Cotton Analyst Naseem Usman told that market remained easy and the trading volume remained low.
He said rate of cotton in Sindh remained between Rs 14,000 to Rs 16,500 per maund and the rate of cotton in Punjab was registered at Rs 14,500 to Rs 16,500 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 4500 to Rs 6800 per 40 kg. While Phutti prices in Punjab were between Rs 5400 to Rs 7200 per 40 kg.
Similarly, prices of cotton in Balochistan were remained at Rs 15,500 to 16,500 per maund while Phutti prices were remained in between Rs 6,200 to 8,400 per maund, said Naseem Usman.
The rate of Banola in Sindh was in between Rs 1350 to Rs 2100 per maund. While in Punjab rates of Banola were in between Rs 1600 to Rs 2,200 per maund.
As many as 100 bales of Lodhran were sold at Rs 17,000 per maund, 400 bales of Fort Abbas were sold at Rs 16,500 per maund, 1000 bales of Sadiqabad were sold at Rs 16,000 per maund, 400 bales of Harronabad were sold at Rs 15,000 per maund, 200 bales of Yazman Mandi were sold at Rs 14,800 per maund and 400 bales of Faqeer Wali were sold at Rs 14,800 per maund.
Minister for Agriculture, Punjab Syed Hussain Jahania Gardezi has claimed that cotton production in Punjab has increased by 40% during the current financial year as compared to last year. He said that Pakistan Cotton Ginners Association (PCGA) has released cotton production data, according to which the country’s total production of Cotton has recorded an increase of 54.22 percent in the current season as compared to the previous season. 7.1million, 68,118 (7,168,118) bales of cotton this year till December 01, whereas in the same period last year, 4.6 million, 48,118 (4,648,118) bales of cotton came to the factories. He said that cotton in Punjab province has come in 3.6 million 79 thousand sixteen (3,679,016) bales whereas last year 2.6million 34 thousand 487(2,634,487) bales came in cotton factories.
Thus, the growth rate of Punjab province has recorded to increase in cotton production 39.65 percent during current year. Welcoming the increase in cotton production, Provincial Minister said that the farmers are happy with the increase in cotton production as compared to last three years.
The increase in cotton production was due to the farmer friendly policies of government, the staff of the agriculture department and farmers burnt their midnight oil to get this increase in cotton production this year, he added.
The Spot Rate remained unchanged at Rs 16,700 per maund. The Price of Polyester Fiber was available at Rs 245 per kg.
Copyright Business Recorder, 2021
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