Cotton sowing in full swing in Sindh, Punjab

KARACHI: Cotton sowing is in full swing in Sindh and Punjab with partial arrival from the new crop while acute water shortage is feared to affect the production, stakeholders said.

During the outgoing week, the market mostly remained stable while very few mills remained active in buying and prices remained between Rs12,500 to Rs13,000 per maund.

Stakeholders said corn and sugarcane are getting priority in sowing over cotton in the Punjab, as substandard seeds and pesticides have affected the moral of growers. Besides, there has been no announcement of support price despite several verbal commitments.

Sources said arrival from the new crop has partially started and around three ginning factories purchased seed-cotton in Sindh. Around 2 to 3 ginning factories have also opened up their gates for buying in the Punjab.

One factory in Burewala has received one lot. Similarly, factories in Sanghar and Tando Adam have also received arrivals. The ginning is likely to start in the first week of June in these factories.

Besides, ginners have sold out cotton in advance to some spinning mills at Rs12,500 per maund in the Punjab and Rs12,200 per maund in Sindh.

Seed of cotton or cottonseed is sold at Rs2,100 to Rs2,400 per maund while seed cotton or phutti is priced Rs5,300 to Rs6,000 per 40kg.

There is acute shortage of water and that is likely to affect cotton crop.

Agriculture Minister of Punjab said the province faced 22 percent water shortage while Sindh faced 17 percent shortage. Sindh government claimed that it was facing more than 40 percent water shortage.

Ali Talpur, member of Federal Food and Research Committee and Vice Chairman of Pakistan Central Cotton Committee said Sindh has cotton sowing target of over 1.7 million acres, of which sowing over 1.3 to 1.4 million acres have been completed. Punjab has target of cotton sowing of over 4 million bales, of which 2.8 to 3 million acres have been sown.

Talpur said cotton target for the next season has been fixed at 10.5 million bales. Trade of new cotton is also recorded, according to the Karachi Cotton Association. Official spot rate increased by Rs1,000 per maund during the week to Rs12,300 per maund.

Sindh is left with a very little stocks of cotton, which fetches price of around 11,000 per maund while lint from Punjab is traded at Rs12,500 to Rs13,000 per maund.

Karachi Cotton Brokers Association Chairman Naseem Usman told The News cotton prices in the international market recorded increasing trend whereas New York Cotton futures were recorded at 82 to 83 cents per pound. Cotton arrivals have started in Brazil while prices in Central Asia remained stable. Prices in India are rising continuously as yarn and fabric are sold at increased rates there.