Since the water crisis worsening each day and water in Mangla Dam is touching low level the rains in central Punjab and parts of Sindh have helped the water situation.
Sanghar and Mirpurkhas cotton growers have started sowing again to recover the short fall of 400,000-500,000 bales. Still the crop cannot mature before September hence, the shortage will occur.
Agriculture department has advised that cotton crop should be monitored to ensure higher production. The cost of end products is expected to rise due to the import duty imposed by the government on 13 main items of raw material category that are value additions to the textile sector.
On the global front, New York cotton closed easy by US1.
25 cents due to stronger dollar and China was steady but Indian cotton came under profit selling and closed lower between Rs200 to Rs300 per candy (356 kg).
The Karachi Cotton Association (KCA) spot rates for second consecutive session raised by Rs100 to Rs7800 per maund.
The new crop deals were finalized on ready counter: ShahÂdadpur, at Rs8100 to Rs8,150; 200 bales, 400 bales, station Tando Adam, at Rs8,150 to Rs8,175; 400 bales, Sanghar, at Rs8,100; 200 bales, Burewala, at Rs8,200; and 200 bales, Vehari, at Rs8,200.
