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Friday, March 29, 2024

Lint and seed having an impact on cotton price

The higher level of cotton seed and the improved availability and quality of lint further pushed cotton price towards low, on Wednesday, 16th August 2017. The concerns are increasing about if the current decreasing trends in price continue, the growers are most commonly to suffer and this will end up having an adverse impact on the future cotton crop.

The minimum viable price for growers, as per cotton expert Naseem Usman, is Rs3,000 per 40kg but the prevailing prices of phutti both in Sindh and Punjab are much below the mark.

Mr Usman further explained that when the season started t6he cotton seeds were available in the price range of about 3000 to 3300 PKR for per 40Kg. However, as the season moved on, the prices started coming down and range between 2,600 to 2,900 PKR per Kg, said Usman.

Subsequently, the cotton prices which were quoted at the start of the season at Rs 6,700 for Punjab quality and Rs6, 400 for Sindh variety are now being quoted at Rs6, 250 to Rs6, 359 for Punjab and Rs 6, 100 to Rs 6, 200 for Sindh respectively.

During the last four sessions, the lint prices were recorded at a fall of about Rs 500/maund. The leading markets in the world also remained under pressure on reports that US would be producing around 1.5 million more bales this season and has a closing stock of 1.4m bales from last crop. However, Indian cotton prices were steady on reports of crop damage by recent rains.

The Karachi Cotton Association (KCA) revised its spot rates downwards by Rs50 to Rs6,200 per maund. The following deals were reported on Wednesday: 2,400 bales, Kotri, at Rs6,100 to Rs6,200; 1,400 bales, Mirpurkhas, at Rs6,100 to Rs6,200; 1,400 bales, Hyderabad, at Rs6,100 to Rs6,200; 2,000 bales, Sanghar, at Rs6,100 to Rs6,200; 1,600 bales, Shahdadpur, at Rs6,100 to Rs6,200; 2,600 bales, Tando Adam, at Rs6,100 to Rs6,200; 1,200 bales, Vehari, at Rs6,275 to Rs6,300; 1,600 bales, Chichawatni, at Rs6,300 to Rs6,350; 1,400 bales, Burewala, at Rs6,300 to Rs6,350; 600 bales, Samundri, at Rs6,300 to Rs6,350; and 200 bales, Mongi Bangla, at Rs6,350.

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