The rate of Phutti in Sindh remains much below the government-indicated rates of Rs850 per 40 kg as the maximum price offered by ginners was 7200 per 40 kg and the lowest rate offered was Rs660 per 40 kg.
This forced farmers’ associations to protest. Perturbed over falling prices, growers ha asked the government to activate the Trading Corporation of Pakistan to start cotton buying at a support price to save them from financial losses.
The federal government in March promised growers an intervention of support price of Rs8,500 per maund of raw cotton (putti) on the advice of the textile industry, which had been pinched last year by the poor local crop production due to floods and heavy rains as well as falling per acre yield and higher rates on the international market.
The measure was announced before the setting in of the cotton season to woo back the farmers abandoning cotton sowing because of its increasing input costs but low market rates. Besides, a Rs1,000 per acre subsidy on seed was also offered as yet another incentive.
The federal government has finally decided to intervene in the Cotton market and directed the Trading Corporation of Pakistan (TCP) to buy cotton to stabilize falling prices and ensure the minimum support price.
Secretary Agriculture, Punjab Iftikhar Ali Sahoo said that the Trading Corporation of Pakistan (TCP) will soon start procurement to ensure better compensation of cotton to the farmers.
He was chairing a meeting about Cotton Crop Management and Monitoring 2023 at Lahore.
Additional Secretary Agriculture (Task Force), Punjab Muhammad Shabbir Ahmed Khan, Director General Agriculture (Extension) Dr. Anjum Ali, Director General Agriculture (Pest Warning) Punjab Rana Faqir Ahmed, Chief Scientist Ayub Agricultural Research Institute, Faisalabad Dr. Akhtar, MD Punjab Seed Corporation Shan-ul-Haq, Director General Agriculture (Crop Reporting), Punjab Dr. Abdul Qayyum and others attended the meeting.
Secretary Agriculture, South Punjab Saqib Ali Ateel, Chairman Ginners Association Chaudhry Bilal Dr Javed from APTMA, and Dr. Iqbal Bandisha participated online.
While giving a briefing on this occasion, the representative of PCGA told the Secretary of Agriculture, Punjab that the harvesting process of early cotton (February planted) is going on and this year, the production is getting better than last year. About 60 ginning factories are working, in the province and so far, a record number of yarn has reached in ginning factories.
Director General Agriculture (Extension) Dr. Anjum Ali said that the condition of cotton is very good in Punjab, especially in DG Khan, Bahawalpur and Multan. The attack of whitefly, Jassid, and Thrips have been observed in some places but it has not reached the economic threshold level (ETL) and upon receiving the report, the teams of Agriculture Extension and Pest Warning are immediately to control it.
On this occasion, the Secretary of Agriculture, Punjab directed that cotton pest scouting, surveillance, monitoring, and the attack of harmful insects should be controlled promptly. Two months are particularly important in this regard. All divisional directors should increase field inspection and go to the field along with divisional expert groups to provide technical guidance to farmers. He added that the weather is favorable for cotton crops and pest infestation is also within economic limits. This year, the cotton production target will be achieved with the cooperation of all stakeholders.
The policy worked well as the area under cotton cultivation increased to 6.9 million acres against less than 6m acres last season.
The local cotton market on Thursday was steady and the trading volume remained satisfactory. The rate of new crops of cotton in Sindh is between Rs 16,800 to Rs 16,900 per maund. The rate of cotton in Punjab is between Rs 17,300 to Rs 17,500 per maund and the rate of Phutti is between Rs 7,200 to Rs 8,000 per 40 kg. The rate of cotton in Balochistan is Rs 16,900 to Rs 17,000 per maund while the rate of Phutti is between Rs 6,800 to Rs 7,300 per 40 kg.
Around, 800 bales of Mir Pur Khas were sold in between Rs 16,900 to Rs 17,000 per maund, 1800 bales of Shahdad Pur were sold in between Rs 16,900 to Rs 17,100 per maund, 3600 bales of Tando Adam, 1200 bales of Sanghar, 600 bales of Shah Pur Chakar were sold at Rs 16,800 to Rs 17,000 per maund, 600 bales of Hyderabad, 600 bales of Kotri were sold at Rs 16,900 to Rs 17,000 per maund, 1400 bales of Nawab Shah were sold in between Rs 17,000 to Rs 17,050 per maund, 1,000 bales of Chaudagi were sold at Rs 16,950 to Rs 17,000 per maund, 400 bales of Jhole were sold at Rs 16,900 per maund, 400 bales of Winder were sold at Rs 16,975 to Rs 17,000 per maund, 600 bales of Mian Channu, 200 bales of Sahiwal, were , 800 bales of Pir Mehal, 600 bales of Chichawatni, 200 bales of Mongi Bangla were sold at Rs 17,500 per maund, 400 bales of Jahanian were sold at Rs 17,400 per maund, 1200 bales of Layyah were sold at Rs 17,500 to Rs 17,600 per maund, 200 bales of Tounsa, 400 bales of Sadiqabad were sold at Rs 17,500 per maund, 1600 bales of Vehari were sold at Rs 17,400 to Rs 17,700 per maund, 1200 bales of Burewala were sold at Rs 17,400 per maund, 800 bales of Khanewal were sold at Rs 17,500 to Rs 17,600 per maund.
The Spot Rate remained unchanged at Rs 17,000 per maund. Polyester Fiber was available at Rs 350 per kg.
Secretary Agriculture, Punjab Iftikhar Ali Sahoo said here on Wednesday that the Trading Corporation of Pakistan (TCP) will soon start procurement to ensure better compensation of cotton to the farmers.
He was chairing a meeting about Cotton Crop Management and Monitoring 2023 at Lahore.
Additional Secretary Agriculture (Task Force), Punjab Muhammad Shabbir Ahmed Khan, Director General Agriculture (Extension) Dr. Anjum Ali, Director General Agriculture (Pest Warning) Punjab Rana Faqir Ahmed, Chief Scientist Ayub Agricultural Research Institute, Faisalabad Dr. Akhtar, MD Punjab Seed Corporation Shan-ul-Haq, Director General Agriculture (Crop Reporting), Punjab Dr. Abdul Qayyum and others attended the meeting.
Secretary Agriculture, South Punjab Saqib Ali Ateel, Chairman Ginners Association Chaudhry Bilal Dr Javed from APTMA, and Dr. Iqbal Bandisha participated online.
While giving a briefing on this occasion, the representative of PCGA told the Secretary of Agriculture, Punjab that the harvesting process of early cotton (February planted) is going on and this year, the production is getting better than last year. About 60 ginning factories are working in the province and so far, a record number of yarn has reached in ginning factories.
Director General Agriculture (Extension) Dr. Anjum Ali said that the condition of cotton is very good in Punjab, especially in DG Khan, Bahawalpur, and Multan. The attack of whitefly, Jassid, and Thrips.
After trading in the lower 80s all week in the US market, December futures dipped back below 80 to finish the holiday-shortened trading week. The Acreage Report came in as expected, with planted acres decreasing slightly overall in the U.S. The market traded higher on the news and showed continued strength after the weekend, reaching the highest level since early June. After the July 4th holiday, questions of demand in China, macroeconomic data, and scattered storms received in West Texas seemed to weigh on prices. The macro flow continued to pressure prices on Thursday as well. December futures settled at 79.88 cents per pound, up 85 points for the week, despite the pressure present late in the week. Total open interest decreased by 3,658 contracts, bringing the total to 171,873.
Stocks wavered this week with the release of mixed economic data. The core personal consumption expenditure (PCE), which is one of the Fed’s main gauges for inflation, rose less than expected. The 0.3% increase month over month and 4.6 percent year over year showed signs that inflation eased slightly in May and that it is slowly moving in the right direction. Data has recently been mixed where inflation is concerned, which could be an indicator that the Fed may resume interest rate hikes in the July meeting. The labor market continues to be resilient.
The U.S. added 497,000 jobs to private payrolls in June, the biggest increase since February 2022 and far exceeding expectations. The Institute for Supply Management (ISM) service index rose more than expected for June, creating additional pressure for markets. The Dollar reached a 3-week high during the week, adding pressure to commodities in general, but eventually fell back on Thursday to post moderate losses. Crude oil had a good rally this week when news of lower global production hit the market. Next week, the June reading of the Consumer Price Index (CPI) will be released. This is another measure of inflation that the Fed will use to determine whether to increase interest rates at the next Federal Open Markets Committee Meeting (FOMC) at the end of the month.
U.S. export sales were solid for the week ending June 29. A net total of 109,200 Upland bales were sold for the 2022/23 crop year, and 130,400 bales for the 2023/24 crop year. This made for a combined total of 239,600 Upland bales, which is a respectable number of sales for this point in the marketing year. The biggest buyer for the 2022/23 marketing year was China, booking a total of 61,700 bales, followed by Mexico with 33,100 bales, Vietnam with 13,200 bales, Japan with 2,300 bales, and Indonesia with 2,000 bales. Cancellations were slightly more noticeable, with a total of 43,400 bales canceled. It appears, however, that many of those cancellations were rolled to the next marketing year. A total of 260,100 bales were shipped for the week, which is behind the pace needed to reach the current USDA export estimate. A net total of 3,700 Pima bales were sold for the 2022/23 marketing year and 900 bales were sold for the 2023/24 crop year. Shipments of Pima totaled 4,200 bales, down significantly from the week prior.
This forced farmers’ associations to protest. Perturbed over falling prices, growers ha asked the government to activate the Trading Corporation of Pakistan to start cotton buying at a support price to save them from financial losses.
The federal government in March promised growers an intervention of support price of Rs8,500 per maund of raw cotton (putti) on the advice of the textile industry, which had been pinched last year by the poor local crop production due to floods and heavy rains as well as falling per acre yield and higher rates on the international market.
The measure was announced before the setting in of the cotton season to woo back the farmers abandoning cotton sowing because of its increasing input costs but low market rates. Besides, a Rs1,000 per acre subsidy on seed was also offered as yet another incentive.
The federal government has finally decided to intervene in the Cotton market and directed the Trading Corporation of Pakistan (TCP) to buy cotton to stabilize falling prices and ensure the minimum support price.
Secretary Agriculture, Punjab Iftikhar Ali Sahoo said that the Trading Corporation of Pakistan (TCP) will soon start procurement to ensure better compensation of cotton to the farmers.
He was chairing a meeting about Cotton Crop Management and Monitoring 2023 at Lahore.
Additional Secretary Agriculture (Task Force), Punjab Muhammad Shabbir Ahmed Khan, Director General Agriculture (Extension) Dr. Anjum Ali, Director General Agriculture (Pest Warning) Punjab Rana Faqir Ahmed, Chief Scientist Ayub Agricultural Research Institute, Faisalabad Dr. Akhtar, MD Punjab Seed Corporation Shan-ul-Haq, Director General Agriculture (Crop Reporting), Punjab Dr. Abdul Qayyum and others attended the meeting.
Secretary Agriculture, South Punjab Saqib Ali Ateel, Chairman Ginners Association Chaudhry Bilal Dr Javed from APTMA, and Dr. Iqbal Bandisha participated online.
While giving a briefing on this occasion, the representative of PCGA told the Secretary of Agriculture, Punjab that the harvesting process of early cotton (February planted) is going on and this year, the production is getting better than last year. About 60 ginning factories are working, in the province and so far, a record number of yarn has reached in ginning factories.
Director General Agriculture (Extension) Dr. Anjum Ali said that the condition of cotton is very good in Punjab, especially in DG Khan, Bahawalpur and Multan. The attack of whitefly, Jassid, and Thrips have been observed in some places but it has not reached the economic threshold level (ETL) and upon receiving the report, the teams of Agriculture Extension and Pest Warning are immediately to control it.
On this occasion, the Secretary of Agriculture, Punjab directed that cotton pest scouting, surveillance, monitoring, and the attack of harmful insects should be controlled promptly. Two months are particularly important in this regard. All divisional directors should increase field inspection and go to the field along with divisional expert groups to provide technical guidance to farmers. He added that the weather is favorable for cotton crops and pest infestation is also within economic limits. This year, the cotton production target will be achieved with the cooperation of all stakeholders.
The policy worked well as the area under cotton cultivation increased to 6.9 million acres against less than 6m acres last season.
The local cotton market on Thursday was steady and the trading volume remained satisfactory. The rate of new crops of cotton in Sindh is between Rs 16,800 to Rs 16,900 per maund. The rate of cotton in Punjab is between Rs 17,300 to Rs 17,500 per maund and the rate of Phutti is between Rs 7,200 to Rs 8,000 per 40 kg. The rate of cotton in Balochistan is Rs 16,900 to Rs 17,000 per maund while the rate of Phutti is between Rs 6,800 to Rs 7,300 per 40 kg.
Around, 800 bales of Mir Pur Khas were sold in between Rs 16,900 to Rs 17,000 per maund, 1800 bales of Shahdad Pur were sold in between Rs 16,900 to Rs 17,100 per maund, 3600 bales of Tando Adam, 1200 bales of Sanghar, 600 bales of Shah Pur Chakar were sold at Rs 16,800 to Rs 17,000 per maund, 600 bales of Hyderabad, 600 bales of Kotri were sold at Rs 16,900 to Rs 17,000 per maund, 1400 bales of Nawab Shah were sold in between Rs 17,000 to Rs 17,050 per maund, 1,000 bales of Chaudagi were sold at Rs 16,950 to Rs 17,000 per maund, 400 bales of Jhole were sold at Rs 16,900 per maund, 400 bales of Winder were sold at Rs 16,975 to Rs 17,000 per maund, 600 bales of Mian Channu, 200 bales of Sahiwal, were , 800 bales of Pir Mehal, 600 bales of Chichawatni, 200 bales of Mongi Bangla were sold at Rs 17,500 per maund, 400 bales of Jahanian were sold at Rs 17,400 per maund, 1200 bales of Layyah were sold at Rs 17,500 to Rs 17,600 per maund, 200 bales of Tounsa, 400 bales of Sadiqabad were sold at Rs 17,500 per maund, 1600 bales of Vehari were sold at Rs 17,400 to Rs 17,700 per maund, 1200 bales of Burewala were sold at Rs 17,400 per maund, 800 bales of Khanewal were sold at Rs 17,500 to Rs 17,600 per maund.
The Spot Rate remained unchanged at Rs 17,000 per maund. Polyester Fiber was available at Rs 350 per kg.
Secretary Agriculture, Punjab Iftikhar Ali Sahoo said here on Wednesday that the Trading Corporation of Pakistan (TCP) will soon start procurement to ensure better compensation of cotton to the farmers.
He was chairing a meeting about Cotton Crop Management and Monitoring 2023 at Lahore.
Additional Secretary Agriculture (Task Force), Punjab Muhammad Shabbir Ahmed Khan, Director General Agriculture (Extension) Dr. Anjum Ali, Director General Agriculture (Pest Warning) Punjab Rana Faqir Ahmed, Chief Scientist Ayub Agricultural Research Institute, Faisalabad Dr. Akhtar, MD Punjab Seed Corporation Shan-ul-Haq, Director General Agriculture (Crop Reporting), Punjab Dr. Abdul Qayyum and others attended the meeting.
Secretary Agriculture, South Punjab Saqib Ali Ateel, Chairman Ginners Association Chaudhry Bilal Dr Javed from APTMA, and Dr. Iqbal Bandisha participated online.
While giving a briefing on this occasion, the representative of PCGA told the Secretary of Agriculture, Punjab that the harvesting process of early cotton (February planted) is going on and this year, the production is getting better than last year. About 60 ginning factories are working in the province and so far, a record number of yarn has reached in ginning factories.
Director General Agriculture (Extension) Dr. Anjum Ali said that the condition of cotton is very good in Punjab, especially in DG Khan, Bahawalpur, and Multan. The attack of whitefly, Jassid, and Thrips.
After trading in the lower 80s all week in the US market, December futures dipped back below 80 to finish the holiday-shortened trading week. The Acreage Report came in as expected, with planted acres decreasing slightly overall in the U.S. The market traded higher on the news and showed continued strength after the weekend, reaching the highest level since early June. After the July 4th holiday, questions of demand in China, macroeconomic data, and scattered storms received in West Texas seemed to weigh on prices. The macro flow continued to pressure prices on Thursday as well. December futures settled at 79.88 cents per pound, up 85 points for the week, despite the pressure present late in the week. Total open interest decreased by 3,658 contracts, bringing the total to 171,873.
Stocks wavered this week with the release of mixed economic data. The core personal consumption expenditure (PCE), which is one of the Fed’s main gauges for inflation, rose less than expected. The 0.3% increase month over month and 4.6 percent year over year showed signs that inflation eased slightly in May and that it is slowly moving in the right direction. Data has recently been mixed where inflation is concerned, which could be an indicator that the Fed may resume interest rate hikes in the July meeting. The labor market continues to be resilient.
The U.S. added 497,000 jobs to private payrolls in June, the biggest increase since February 2022 and far exceeding expectations. The Institute for Supply Management (ISM) service index rose more than expected for June, creating additional pressure for markets. The Dollar reached a 3-week high during the week, adding pressure to commodities in general, but eventually fell back on Thursday to post moderate losses. Crude oil had a good rally this week when news of lower global production hit the market. Next week, the June reading of the Consumer Price Index (CPI) will be released. This is another measure of inflation that the Fed will use to determine whether to increase interest rates at the next Federal Open Markets Committee Meeting (FOMC) at the end of the month.
U.S. export sales were solid for the week ending June 29. A net total of 109,200 Upland bales were sold for the 2022/23 crop year, and 130,400 bales for the 2023/24 crop year. This made for a combined total of 239,600 Upland bales, which is a respectable number of sales for this point in the marketing year. The biggest buyer for the 2022/23 marketing year was China, booking a total of 61,700 bales, followed by Mexico with 33,100 bales, Vietnam with 13,200 bales, Japan with 2,300 bales, and Indonesia with 2,000 bales. Cancellations were slightly more noticeable, with a total of 43,400 bales canceled. It appears, however, that many of those cancellations were rolled to the next marketing year. A total of 260,100 bales were shipped for the week, which is behind the pace needed to reach the current USDA export estimate. A net total of 3,700 Pima bales were sold for the 2022/23 marketing year and 900 bales were sold for the 2023/24 crop year. Shipments of Pima totaled 4,200 bales, down significantly from the week prior.