LAHORE: The local cotton market on Wednesday remained steady and the trading volume remained satisfactory.
Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 16,600 to Rs 16,800 per maund. The rate of Phutti in Sindh is in between Rs 6,800 to Rs 7,300 per 40 kg.
The rate of cotton in Punjab is in between Rs 17,000 to Rs 17,200 per maund and the rate of Phutti is in between Rs 7,200 to Rs 8,300 per 40 kg. The rate of cotton in Balochistan is Rs 16,700 per maund while the rate of Phutti is in between Rs 7,000 to Rs 7,300 per 40 kg.
Approximately, 3200 bales of Tando Adam were sold at Rs 16,300 to Rs 16,600 per maund, 2800 bales of Shahdad Pur were sold at Rs 16,300 to Rs 16,750 per maund, 2400 bales of Sanghar were sold at Rs 16,300 to Rs 16,500 per maund, 600 bales of Mir Pur Khas, 400 bales of Kotri, 400 bales of Rasool Abad, 400 bales of Mehrab Pur, 200 bales of Maqsoodo Raind, 400 bales of Nouabad, 400 bales of Chodagi, 200 bales of Norangi were sold at Rs 16,500 per maund, 800 bales of Shah Pur Chakar were sold in between Rs 16,400 to Rs 16,700 per maund, 1400 bales of Vehari were sold at Rs 16,900 to Rs 17,100 per maund, 400 bales of Khanewal were sold at Rs 17,200 per maund, 800 bales of Jahanian were sold at Rs 16,950 to Rs 17,000 per maund, 200 bales of Burewala were sold at Rs 17,000 per maund, 400 bales of Peer Mahal, 200 bales of Layyah were sold at Rs 16,900 per maund.
Naseem Usman further said Deputy Commissioner of Sanghar called the leaders of the cotton producers to his office and ordered them to buy Phutti at the rate of 8500 rupees per 40 Kg and if they do not do so, strict action will be taken against them. Cotton ginners’ leaders have asked the ginners of Sanghar district to immediately stop the purchase of cotton.
Meanwhile, Sindh government has taken notice of the non-compliance of the official cotton rates. The provincial Advisor Agriculture Manzoor Hussain Wasan has said that the official price of Phutti is 8,500 rupees per 40-kg.
The adviser directed all the deputy commissioners and officers of the Agriculture Department to take action against the dealers who do not buy cotton from the farmers at the government-fixed rate. Cotton factories buying cotton from farmers at low prices should be sealed, he said.
Wasan said that farmers from Sanghar, Mirpurkhas, Nawabshah, Khairpur and other cities registered such complaints which would be redressed.
The Spot Rate remained unchanged at Rs 16,500 per maund. Polyester Fiber was available at Rs 350 per kg.
Copyright Business Recorder, 2023
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