LAHORE: The Spot Rate Committee of the Karachi Cotton Association on Friday increased the spot rate by Rs 500 per maund and was available at Rs 21500 per maund. The local market remained stable on Friday. The trading volume remained low.
Cotton Analyst Naseem Usman told that rate of cotton in Punjab and Sindh is in between Rs 18000 to Rs 21,000 per maund.
200 bales Trader to Mill were sold at Rs 23000 per maund, 200 bales Trader to Mill were sold at Rs 27000 per maund and 1000 bales of Traders to Mill were sold at Rs 2300 per maund.
Agriculture experts have stressed the need for promoting economically-efficient and environment-friendly innovative solutions for agriculture production for improving production and the income generation capacity of the farmers.
These observations were made by the speakers during a three-day workshop on organic cotton here on Thursday.
The speakers called for organic cotton production which aims to bring sustainability by reducing the use of pesticides, synthetic fertilizers and water.
It was also stressed that organic cotton supports biodiversity conservation and promotes agro-forestry in Pakistan whereas conventional cotton production practices with excessive use of chemical fertilizers and pesticides, pose threat to wildlife and lead to degradation of habitats and ecosystems.
Speaking on the occasion, Dr Masood Arshad, Senior Director Footprint, World Wild Fund WWF-Pakistan said that Pakistan is the fifth-largest producer of cotton in the world and has the third-largest cotton spinning capacity in Asia, after China and India.
He said that the WWF-Pakistan is promoting organic cotton with sustainable practices, which has resulted in a 22 percent reduction in pesticides, 12 percent reduction in the use of irrigation water and 19 percent reduction in the use of synthetic fertilizer, which ultimately reduces the per unit greenhouse gas emissions at the farm level, compared to cotton produced by non-participating farmers. This has helped empower disadvantaged groups in the society who largely depend on cotton production, he added.
Syed Habib Shah from Balochistan said: “We, in collaboration with WWF-Pakistan, are highly enthusiastic to promote organic cotton production and ensure its certification under the global organic standards”.
He added that Balochistan holds huge potential of organic farming and with joint efforts and some needed developments; we can earn a sizeable benefit for the farming community and the country’s economy.
Dr Shafqat Saeed, Dean MNS University of Agriculture Multan, shared that this is the time to develop synergies and shift our conventional farming to nature based farming.
He said that at MNS University, we are experimenting and formulating best biological solutions to promote soil and plant health leading to support organic farming in Pakistan.
The Spot Rate Committee of the Karachi Cotton Association on Friday increased the spot rate by Rs 500 per maund and was available at Rs 21500 per maund. The Polyester Fiber was available at Rs 303 per kg.
Copyright Business Recorder, 2022