Cotton seed prices up by Rs 150/40kg
November 20th, 2012 | Technology Times | No Comments
STAFF REPORT LHR: The prices of seed cotton (phutti) have risen by Rs 100 to 150 per 40 kg in various parts of the country and touched highest price of this season Rs 3,000 per 40 kg during last two days. It is expected that prices of cotton lint will also show corresponding upward trend.
“After the devolution of Food and Agriculture Ministry to provinces there is no official estimate available for the current season of national cotton production,” said Pakistan Cotton Ginners Association former Executive Member Ihsan-ul-Haq.
However, agricultural experts, cotton commissioner and provincial agriculture ministries initially have estimated of 15 million bales for domestic cotton production this year. Afterwards due to the crop losses in Sindh and Punjab caused by heavy rains forced experts to lower the estimates to the tune of 14.5 million bales.
The arrival of phutti in agriculture markets and in ginning factories is lower than expected so the ginning factories have accelerated their buying activities resulting in rise of seed cotton prices. Haq further said that USAID estimated for current year cotton production in Pakistan around 12.8 million bales.
He further said that during the start of current cotton season, the cotton lint prices had touched Rs 6,300 per maund but afterwards prices gone low.
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