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Cotton price hits 11-year high as farmers switch to other crops - Newspaper

Cotton traders and ginners are sure that the country would not achieve the target of 10.5 million bales set for this season which has just started. Dawn/File
KARACHI: Once again the cotton cultivation area has dropped sharply in both the cotton-producing provinces, creating fear of a major decline in production, which has pushed up the initial cotton trading price to an 11-year high.
Cotton traders and ginners are sure that the country would not achieve the target of 10.5 million bales set for this season which has just started. The previous season, which ended in March 2021, could hardly produce 5.6m bales against the target of 11m bales set by the government. ....

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Cotton Crisis Destroys Jobs Tied to Pakistan's Biggest Cash Crop

Cotton Crisis Destroys Jobs Tied to Pakistanâs Biggest Cash Crop
Apr 21 2021, 2:44 PM
April 21 2021, 6:30 AM
April 21 2021, 2:44 PM
(Bloomberg)
(Bloomberg)
Pakistan, one of the worldâs largest cotton producers, is finding it increasingly hard to meet its own needs, a problem that could push up import bills and further hurt its fragile economy.
Years of bad weather, pest outbreaks and better margins on other crops have hurt the quality and quantity of harvest. And the scale of damage is accelerating: production in the current fiscal year is set to tumble to the lowest level in about three decades.
As a result, the country is spending billions of dollars to import record amounts of cotton to feed its textile industry, something it can ill afford to do. Its current account which posted a rare surplus between July and December has recently flipped back into a deficit amid higher imports. The move also threatens to boost cotton prices ....

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Ginners oppose cotton imports from India - Newspaper

KARACHI: The Pakistan Cotton Ginners Association (PCGA) on Saturday strongly opposed cotton imports from India, maintaining that the move would discourage local growers from sowing this cash crop.
Growers, ginners, spinners and cotton brokers are actively supporting the government’s decision of not allowing cotton imports from India despite the Economic Coordination Committee approval.
Talking to Dawn, PCGA Chairman Dr Jesu Mal said that if Indian cotton imports are allowed, growers will not go for sowing of cotton for this season. Cotton sowing has already begun in Sindh and will start soon in Punjab.
“Due to no research on cotton seeds, poor pesticides and high cost of fertilisers, cotton yield fell to nine maund per acre during the season ended with just 5.5 million bales almost one third of the production we achieved with 14.8m bales a few years ago,” he said. ....

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Cotton price hits the season-highest of Rs10,200 per maund

Business
January 3, 2021
KARACHI: Cotton spot rate has reached to this season’s high of Rs10,200 per maund, taking cue from uptick in international prices, while laggard production estimate kept panic buying up, industry people said on Saturday.
Karachi Cotton Association’s spot rate committee increased the spot rate by Rs250 per maund to the highest spot rate of Rs10,200 per maund.
Price hike was also recorded in the international market, said Naseem Usman, chairman of Karachi Cotton Brokers Association. New York Cotton Market’s futures increased to 78 cents per pound, which is highest rate of the season.
US exports remained lower by 30 percent during the week. Dollar rate also decreased during the week. Cotton rates, however, increased despite of 25 December holiday, bank closing and threats of Covid-19, said Usman. ....

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Cotton lint prices reach Rs10,300 per maund amid shortage

Cotton lint prices reach Rs10,300 per maund amid shortage
Business
December 20, 2020
KARACHI: Cotton lint prices touched the Rs10,300 per maund level for the second time this season as almost V-shaped recovery in textile industry in Pakistan amid the global pandemic turbulence sharpened demand of the industrial input, it was learnt on Saturday.
Cotton lint prices in the local market increased around Rs500 to Rs700 per maund. It is second time in the season that lint price reached to Rs10,300 per maund level, according to traders.
Traders are expecting prices to reach at the highest level of the season at Rs10,500 per maund in the coming days due to shortage of lint in the market. ....

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