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Offline M&M

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Re: Cotton
« Sticky post on: May 17, 2011, 11:14:14 AM »

« Last Edit: February 23, 2012, 08:26:06 PM by M&M »
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Re: Cotton
« Reply #-1 on: May 17, 2011, 11:14:14 AM »

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Cotton
« on: October 29, 2008, 09:06:33 AM »
All about Cotton

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Re: Cotton
« Reply #1 on: October 29, 2008, 09:06:54 AM »
Spinners, ginners tussle leaves cotton growers in a fix
 
 
Wednesday, October 29, 2008
By Aftab Maken

ISLAMABAD: Cotton growers are not getting due price for their produce, as ginners and textile spinners have cartelised the trade to depress the lint and phutti prices, market and farm sources told The News on Tuesday.

Concerned federal ministries including commerce, textile and industry are completely unaware of the issue, as none of the relevant secretaries held a meeting to rescue the cotton growers from the clutches of one of the strongest lobbies in the country, a depressed farmer from Multan told this correspondent.

Pakistan Cotton Ginners Association (PCGA) President Ch Mohammad Akram says; “The textile lobby is responsible for monopolising and depressing the lint rates in the local market.”

Spinners in a unilateral move had stopped purchasing lint from ginners that caused inventories to pile up, Ch Mohammad Akram told this scribe.

Ginners in return altogether stopped buying seed-cotton (phutti) from growers and selling cotton lint to spinners, he said.

“Textile millers have reached an understanding within their association to depress the lint prices from Rs3,500-Rs,4000 per 40 kg to around Rs2,500 only within a couple of days,” Ch Akram informed.

About PCGA demands, Ch Akram said that the announcement of support price of Rs3,500 per 40kg will help to stable cotton prices in the local market otherwise, the association will shutdown mills from Oct 30.

Shortage of liquid cash is only one of the reasons, Ch Akram said asserting the root cause is the monopoly of the textiles and spinners that forced the PCGA to stop purchase of seed cotton and sale of cotton lint.

The situation can only be averted when Trading Corporation of Pakistan (TCP) starts the operation as second buyer for maintaining lint prices in the domestic market, he added.

In the fighting between the two bulls (spinners and ginners) the frogs (farmers) are getting crushed, another farmer from Vehari said quoting an ages old adage, “the poor farmers are crying and suffering from the tussel between ginners and spinners as the cotton (phutti) prices have crashed to a low level of Rs1,200 per 40 kg.”

“Cotton (phutti) prices below Rs1,500 per 40 kg are un-acceptable for the community,” said the same farmer warning the concerned quarters to take corrective measures otherwise they (farmers) would be on the roads.

Secretary Textile, Abdur Rauf Chaudhry’s was not available for comments even after repeated attempts to get his views on the issue.

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Re: Cotton
« Reply #2 on: October 29, 2008, 09:07:29 AM »
Monsanto working on sustainable model for Bt cotton
 

Wednesday, October 29, 2008
By our correspondent

Karachi: Monsanto Pakistan is currently working with the industry and other stakeholders in Pakistan on a sustainable business model for the introduction of Bt cotton in Pakistan, says a company press release.

The government has been considering a number of proposals on this technology from various seed companies, it adds. Monsanto says that Bt cotton technology is expected to bring significant benefits for Pakistan’s cotton farmers in terms of increasing yield, decreasing losses due to various pests and enhancing farm income.

After consultations with various stakeholders, Monsanto Pakistan has presented a number of business models that are currently being considered by the government. However, no final decision has yet been taken on this issue by the government.

Pakistan has become a net importer in excess of two million bales due to an acute shortage in cotton production. Pakistan is in an urgent need to increase its bulk production of cotton, and biotechnology is one tool that can help increase productivity of Pakistan’s agriculture. In a neighbouring India, Bt cotton has demonstrated excellent results by curbing pest attacks on cotton crop and thus reducing losses to yields, says the company press release.

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Re: Cotton
« Reply #3 on: November 14, 2009, 02:08:29 PM »
TCP disposes of 17,999 cotton bales

KARACHI: Trading Corporation of Pakistan (TCP) has disposed of 17,999 bales of cotton of various grades under local sale here Friday. A TCP official said that tender was floated on October 29, 2009 and opened on November 10, 2009 at TCP head office. TCP had received 12 bids from local buyers quoting prices for local sale ranging between Rs 3,350 and Rs 3,753 per maund and two bids for export quoting price in the range of 54.50 cents to 53.65 cent per pound FOB. app


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Re: Cotton
« Reply #4 on: November 15, 2009, 01:40:53 PM »
Cotton touches new peak at Rs4,100 per 40kg  

Chairman, Cotton Broker Forum Naseem Usman said that demand for cotton yarn has also surged in the local market on higher cotton rates.
     
He said spot rates of Karachi Cotton Association (KCA) also increased by Rs50 to Rs3,950 per 40kg on rising buying activity from mills and exporters.
     
Cotton was traded at Rs3,950 to Rs4,100 per 40kg in Punjab and Sindh during the week on hectic demand.
     
Good quality phutti price touched the peak at Rs2,200 per 40 kg while binola price closed at Rs950 per per 40kg in Sindh

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Re: Cotton
« Reply #5 on: December 15, 2009, 08:30:49 PM »
Spinners book $300m fresh export orders of cotton yarn

By Tanveer Ahmed

KARACHI: Despite the acute shortage of cotton yarn in the country, spinners have booked $300 million fresh orders for export of the commodity, Daily Times learnt on Monday.

The shortage of cotton yarn has left adverse affect on the value-added textile sector in the shape of high prices of cotton yarn and in some cases even its non-availability has created problems for them to operate their units.

The unbridled export of cotton yarn has been worrisome, value-added textile sector pointed out but instead of taking corrective measures to stop its export, its has been continued without any check.

Cotton yarn is the basic ingredient of the value-added sector, however high prices has made value-added textile products uncompetitive in the international market and furthermore shortage has been making difficult for them to meet the export orders.

Value-added textile manufactures regretted that no action has been taken on part of the government to save the sector from crippling and came hard on Trade Development Authority of Pakistan (TDAP), which has been oblivious to the precarious situation the textile sector is in and is turning a blind eye to the grave predicament which will surely lead to the textile exporters failing to meet their commitments with their foreign buyers owing to non-availability of cotton yarn,” they observed.

It is noteworthy that TDAP formed Monitoring Committee to resolve the issue, has rejected the demand of the value-added textile sector to put a ban on the export of cotton yarn and impose any regulatory check.

In October, exports of cotton and cotton yarn increased by more than 30 percent amid fall in value addition. Value-added industry had also sought ban on exports of cotton yarn below 32-single count.

Since the beginning of last month, cotton prices have jumped up by 600-700 rupees per maund (37.32 kgs) creating a new record for the highest price of lint ever recorded in Pakistan. Similarly, seed-cotton (kapas/phutti) prices also rose commensurately so that the increases in both seed-cotton and ginned cotton prices appeared to rise in tandem with each other.

With a net deficit in cotton demand and supply balance sheet in Pakistan this season (2009-2010), it is anticipated that lint prices would show a phenomenal increase, suggests Globe Cotton.

Therefore, several ginning factories, particularly in Sindh have closed down or have reduced their working by several hours. Under these circumstances, mills in Pakistan have increased their enquiries for imported cottons and are seeking viable rates from several origins to replenish their inventories.

Textile industry and exports have been hit hard by escalating prices of raw material and the cost of doing business has increased considerably. Industry is doubly burdened with price hike as well as the shortages of gas and electricity. Resultantly the productivity and industrial output has decreased and the exporters are unable to fulfill their commitments with their foreign buyers.

Textile exports being on decline due to indiscriminate exports of cotton and cotton yarn; it is apprehended that Pakistani exporters would be losing their export markets by conceding advantage to their rival countries.

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Re: Cotton
« Reply #6 on: December 19, 2009, 11:28:45 AM »
Cotton hit record high at Rs 4,600 per 40kg
ISLAMABAD : The cotton prices hit record high at Rs 4,600/40kg with an addition of Rs 100 in the market, according to a TV channel. According to the channel, cotton purchase increased after the government's announcement of not imposing ban on cotton's export.

An addition in prices of cotton crops is being recorded after the announcement. The increase in thread export is also influencing cotton market. Dealers say increase in cotton prices in international markets is also affecting local market.

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Re: Cotton
« Reply #7 on: December 19, 2009, 11:29:32 AM »
Value-added sector demands capping of cotton yarn exports
KARACHI (December 19 2009): The value-added apparel sector has been greatly hit and badly mauled owing to acute shortage and non-availability of cotton yarn with a large number of units, on the verge of closure, have been warning and highlighting to the government since last October for capping of exports of cotton yarn, and now D-Day for the value-added apparel sector is on the cards, stated M Jawed Bilwani, Chairman of Pakistan Apparel Forum.

He said that despite the fact that while Pakistan's competing countries like India, Bangladesh, China and other countries are also signatories of WTO, yet they are conscious of the importance of their value added textile sector and have been taking bold steps to protect this sector.

He stated that India, WTO member since 1995, imposed quantitative capping of exports of cotton yarn from 1993 to 2002 and in 1985 also India imposed quotas on cotton yarn export. Bangladesh, a WTO member since 1995, slapped a ban on exports of jute on 7th December, 2009 to protect the local spinners, converting jute by way of value-addition. China, WTO member since 2005, increased export duties of 74 textile categories including flax single yarn in 2005 and in addition to this it is giving subsidy in the form of export rebate for labour-intensive textile and garments industries @ 16 percent.

Jawed said that even Pakistan, from 1988 to 1995, imposed export tax on raw cotton for development of cotton yarn industry. The aim was to reduce price of cotton fibre. The scheme was successful and from 1988 cotton export decreased substantially while production and export of yarn increased. He said that now it is time to go one step forward to next level in value-addition and impose restriction on export of cotton yarn for development of the value added textile industries.

He strongly emphasised that it has become imperative to impose quantitative restriction through capping exports of cotton yarn up to 32 single counts, which should be fixed at 23 million kg per month, for the remaining part of fiscal year 2009-10 at least, until June, 2010.

The above capping of 23 million kg/month has been suggested by him based on the following facts and figures: As Pakistan's domestic requirement of cotton yarn increased, exports went down by 16.6 percent In FY2008, and further 5.5 percent In FY2009. The average annual decline in exports comes to 11 percent.

According to this trend of increase in domestic demand, proportionately, in FY 2010 exports should not exceed 466 million kg, ie, previous year's export minus 11 percent. FY 2010, 305 million have been already exported July-November 466-305 = 161 million kg, this should be set as the remaining quota for the year. Monthly capping December-June = 166/7 = 23 million kg per month.-P

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Re: Cotton
« Reply #8 on: December 19, 2009, 11:49:31 AM »
Activity slows on cotton market
RECORDER REPORT

KARACHI (December 19 2009): Activity came down on the cotton market on Friday as mills and exporters kept to the sidelines in the absence of guiding factors, dealers said. The official spot rate was unchanged at Rs 4, 325, they said. In ready business, nearly 8,000 bales of cotton changed hands at rates between Rs 4275 and Rs 4450, they said. Phutti prices came down in Sindh and Punjab at Rs 1800-2100, they added.

According to market sources, most of the mills and exporters did not take part in trading because of conflicting reports about government's strategy on export of cotton yarn. Vice chairman of All Pakistan Textile Mills Association (Aptma) Shahdad Ahmed expressed concern and said that any kind of ban on export of cotton yarn would hit the textile industry.

Some analysts said that now it is the responsibility of the government to tackle the matter boldly and the move should be in favour of textile circle because this is the only major source of earning foreign exchange. On Thursday, NY cotton futures finished lower on investor sales, sparked in part by a strong dollar as the market pulled back from a 21-month high hit in the previous session, brokers said.

March contract went down 0.51 cent to 75.74 cents per lb, dealing between 75.01 and 76.17 cents. It was an inside day since the range was within Wednesday's band of 74.89 to 76.58 cents. The Wednesday close of 76.25 cents was the highest finish for cotton based on the spot daily charts since the end of February 2008. Volume traded in the March contract hit 10,093 lots at 2:36 pm EST (1936 GMT).

FOLLOWING DEALS WERE REPORTED: 600 bales from Shahdad Pur at Rs 4275, 200 bales from Sanghar at Rs 4300-4350, 3000 bales from Upper Sindh at Rs 4400-4450, 800 bales from Fazilpur at Rs 4390, 1000 b

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Re: Cotton
« Reply #9 on: December 22, 2009, 08:35:39 PM »
Cotton output for 2009-10 expected at 12.5mn bales



ISLAMABAD: Output from Pakistan’s 2009/10 cotton crop will be more than 12.5 million bales, compared with 11.8 million bales the previous year, government and industry officials said on Tuesday.

Pakistan is the world’s fourth biggest cotton producer but often has to import supplies to meet the demand of its textile sector, which accounts for about 60 per cent of total exports.

Officials had earlier estimated about 12 million bales in the crop year ending in March after pest and virus attacks in the major cotton-growing area of Punjab province.

But output had increased significantly in the southern province of Sindh, an industry official said.

‘We are now estimating the cotton crop this year to be over 12.5 million bales, as the crop in Sindh has been very good,’ Naseem Usman, chairman of the Karachi-based Cotton Brokers Forum, told Reuters.

A spokesman for the Food Ministry said the government had expected 12.1 million bales, but arrivals in the market had shown a 24 per cent increase over last season and it now expected the crop to be to be about 12.5 million bales.

‘By Dec. 15 about 11.29 million bales have arrived at the ginning factories as compared to 9.09 million bales recorded in the same period last year,’ the spokesman said.

Pakistan has set a target of 13.36 million bales for the 2009/10 crop after the area under cultivation increased to 3.2 million hectares (7.9 million ares) from 2.8 million hectares last year, but attacks by pests and cotton leaf curl virus have taken a toll.

Pest and virus attacks were likely to cut the crop in Punjab province, which had been expected to produce 10 million bales, by 10-15 per cent.

Output in Sindh, the other major cotton-growing province, has been estimated at about 4 million bales.

Final crop estimates are usually made in February.

Pakistan’s cotton output in 2008/09 fell to 11.8 million bales, well below a target of 14.1 million bales, mainly because of a shortage of water, pest attacks and a 7.7 per cent cut in the area under cotton cultivation from the year before.

Domestic consumption fluctuates between 14 million and 16  million bales a year.

But with no bar on exports, growers also sell their output in the international market to fetch a better price, meaning more has to be imported.

Usman said Pakistan would need to import 3 million to 3.5 million bales this year as about one million bales would likely be exported this year.

‘We have already exported about 300,000 bales between  August and November,’ he said.

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Re: Cotton
« Reply #10 on: December 23, 2009, 03:52:54 PM »
Lint prices increase despite good production


KARACHI (December 23 2009): Prices showed further rise on the cotton market on Tuesday despite the good production, dealers said. The official spot rate was unchanged at Rs 4,375, they said. In the ready business, rates were modestly higher as only 10,000 bales of cotton changed hands between Rs 4300-4500. Phutti prices were same in Sindh and Punjab at Rs 1800-2200, they added.

Nearly 1000 bales from Rahim Yar Khan and 14 bales from upper Sindh sold at Rs 4550, depicting modest rise in the prices, they said. The surprising thing is that the production of cotton is not as bad as it is drawing on the map, instead, the output is showing increase against the last year, some analysts said.

The other surprising factor is the conflict over the exports of cotton yarn, which could not be settled. The concern is that if the export is causing job loss in the country, why the government is allowing it? But on the other hand, the All Pakistan Textile Mills Association (APTMA) is claiming that there was no shortage of cotton yarn, they said.

The Pak cotton is in demand due to good quality and China is leading in the cotton buying from Pakistan, dealers said. According to the news, China, the world's largest cotton consumer, has issued the first batch of 1.89 million tonnes of cotton import quotas for 2010, as it aims to ease supplies ahead of an expected low domestic harvest.

On Monday the NY cotton futures finished easier on very modest investor sales as major players peeled away for the year-end holidays and fiber contracts could drift quietly the rest of the week, brokers said. The benchmark March cotton contract declined 0.32 cent to finish at 74.96 cents per lb, dealing between 74.89 and 75.79 cents. Volume traded in the March contract hit a very light 4,094 lots at 2:34 pm EST (1934 GMT).

THE FOLLOWING DEALS REPORTED: 600 bales of cotton from Khipro sold at Rs 4300-4350, 2000 bales from Shahdadpur at Rs 4300-4400, 200 bales from Noabad at Rs 4300, 200 bales from Mirpur Bhataro at Rs 4300, 4000 bales from upper Sindh at Rs 4500, 1200 bales from Rahim Yar Khan at Rs 4500, 100 bales from Sadiqabad at Rs 4500, 400 bales from Multan at Rs 4300, 400 bales from Arifwala at Rs 4300 and 400 bales from Chichawatni at Rs 4400.

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Re: Cotton
« Reply #11 on: December 26, 2009, 06:13:37 AM »
Controversy over cotton yarn export continues
RECORDER REVIEW
FAISALABAD (December 26 2009): Powerloom owners, disappionted over the decision of the Cabinet Committee on Textile about cotton yarn export have resolved to resume their agitation after Ashura and resort to strike from January 2. After wheat, sugar, gas and power shortages, Pakistan is now facing shortage of yarn, said to be the effect of export.

This is a basic raw material for value-added textile sector, and there is an increase in cotton yarn prices. Yarn exports continue surging, but sales of apparel, bed linen and cotton fabrics are declining, in sharp contrast with the boom experienced in the first sixteen months without quotas. Rising energy and financial costs would be behind the current difficulties.

The Cabinet Committee on Textile has announced withdrawal of the five percent import duty on yarn imports and Customs duty on import of cotton yarn, falling under Chapter 52 of the Harmonised Tariff Schedule, will be removed with immediate effect. The Cabinet Committee will keep yarn exports under review and may take corrective measures if exports cross the level of 50 million kgs per month.

Some quarters in the textile industry were pushing the government to ban yarn export, or at least tax it, after prices surged to an all time high level in late October. But officials, both at textile and agriculture ministries, continued to maintain that any such move would deprive cotton growers of an opportunity to get a reasonable return by exposing to a exploitation by industrialists.

APTPMA arranged a meeting immediately and discussed the cabinet committee decisions and further programme. The APTMA and KCA oppose the idea to impose ban on coarse yarn and cotton export while the PTMA, PTEA, PHMEA, APTPMA, APBUMA and PCPA castigate the decision of the committee in this respect.

The powerloom owners have decided to resume their called off agitation, after Muharram and shutter down strike from January 2, 2010. They said cotton yarn prices have surged by some 45 percent to Rs 840 per bundle during last one year. However, due to free trade under WTO regime the export of cotton yarn is on the rise, and the government is unable to restrict it.

Feroze Azam Chairman Pakistan Towel Manufacturers Association (PTMA), said "due to export of coarse yarn, our competitiveness and cost of doing business has been enhanced. We export quality towel by using our coarse yarn and due to shortage of raw material the towel sector was facing hardship to meet production cost".

M Jawed Bilwani, Chairman, Pakistan Apparel Forum and Pakistan Textile Exporters Association's Chairman, Khurram Mukhtar, a cluster of opposing textile segment, said after several meetings with the stakeholders reached an understanding that keeping in mind the severe complication faced by the domestic value-added textile sector due to non-availability of cotton yarn, such a decision is incomprehensible. He said the government is playing into the hands of the spinning sector and ignoring the largest foreign exchange and employment generator, the value-added textile sector.

Khurram Mukhtar, said exports of value-added textile items were time and again moribund over the last five months. He said that mere monitoring of LC conditions would prove totally hopeless and the handling and plotting should be undertaken. They demanded urgent counteractive and regulatory measures to save the value added sector from complete destruction.

Member KCA, Shakeel Ahmad said, "Our coarse yarn is cheaper in the world market with high quality and available at local market around Rs 30 per pound". He said in open market economy, there should not be any ban on export or import except ban on import of luxury items. He said around 75 percent of local yarn is used by the value addition sectors in the country and only 25 to 30 percent coarse yarn is exported to China, Sri Lanka, India, Bangladesh, Indonesia and Thailand. He demanded the government not to intervene and take any short term/ad-hoc measures because the consequences would not hurt the spinning industry.

Anwar Ahmed Tata, Chairman, APTMA said., "we believe in free trade and are not in support of any kind of control on exports of yarn. At this movement total requirements of spinning industry is about 15.5 million bales (170 kgs) per annum whereas average production of cotton in the country is 11.5 to 12.0 million bales.

"Unfortunately certain forces have sabotaged the textile policy. Pakistan is the fourth largest cotton growing country only due to lack of interest from the economic managers of the government and exploiters in the industry, lost its competitive edge. Our raw cotton and yarn is being freely exported without any planning, resulting in price hike in domestic market and our competitors are enjoying comparatively cheaper price supplies from Pakistan. We request the competent authorities of government to realise gravity of the situation and take remedial measures on emergency basis".

Cotton economy for the last 10 years had been operating on the basis of market forces after the then commerce minister, Razak Dawood, allowed duty-free import and export of textile raw material. A number of suggestions were floated by the value-added sector, including imposition of duty on export on cotton and cotton yarn to those countries which compete with them in the world market. Other proposals were of fixing ceiling on exports at the level of previous year or giving refinance on local sale of course yarn under 32 counts. Similarly, it was also suggested that spinners should also be given refinance on export of fine yarn. However, these suggestions were turned down by the spinners, as a result the meeting remained inconclusive.

Looking at the situation, the sources said the minister was left with no choice but to come up with some administrative measures. The approval would be sought from the Cabinet meeting to take legal action against hoarders and profiteers of cotton yarn but still no action on remove the crises.

The President FCCI Sh. Abdul Qayyum said that due to the unlimited export of yarn, the weaving sector is facing acute shortage of yarn. Resultantly, the power loom sector is forced to shutdown their units, which will lead to unemployment of thousands of labour. He further disclosed that Faisalabad is a labour intensive city and hundred thousand of the labourers running their kitchen by their earnings from the powerlooms sector.

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Re: Cotton
« Reply #12 on: December 26, 2009, 08:52:45 PM »
Cotton stable at Rs 4,550 per maund


KARACHI : Cotton remained stable at new high of the season at Rs 4,550 per maund this week on cautious buying from exporters and local mills, brokers said Saturday.

Chairman, Cotton Broker Forum Naseem Usman said that activity was rather slow due to holidays.

He said spot rates of Karachi Cotton Association (KCA) closed at Rs 4,375 per maund after gaining a rise of Rs 50.

Cotton was traded at Rs 4350 to Rs 4550 per maund in Punjab and Sindh during the week.

Good quality phutti price ranged between Rs 1800 to 2550 per 40 kg while binola price closed at Rs 920 per maund in Sindh.

Toshi

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Re: Cotton
« Reply #13 on: December 27, 2009, 01:21:55 PM »
Pakistan imported about 84,017 metric ton sugar during current fiscal year
MOHAMMAD ALI
KARACHI (December 27 2009): The country has imported around 84,017 metric ton (MT) sugar during the last six months of current fiscal year, which is 879 percent higher as compared to 8,582.39MT sugar traded in the last corresponding period. According to provincial statistics of Model Customs Collectorate (MCC) of PaCCS made exclusively available to Daily Business Recorder on Saturday revealed that only 8582.39MT sugar amounted to Rs 325 million was imported in the last corresponding period.

Whereas, around 8,4017 MT sugar worth Rs 3.707billion has been imported so far but the daily kitchen item is still out of stock in local markets. It further said that around 3,989 MT sugar worth Rs 260million was imported in current month, which is 55 percent higher as compared to 2,575MT sugar amounted to Rs 86 million imported in the last corresponding period.

It said that out of total import value of Rs 329.94 billion made in ongoing fiscal year, some Rs 234.87 billion was calculated as dutiable imports (DI) while remaining Rs 95.069 billion imports were declared as duty free imports, depicting 4 percent decline in DI as compared to Rs 245.488 billion DI made in the last corresponding period.

The export value of Rs 342.014 billion has witnessed 8 percent growth as compared to Rs 318.004 billion exports made in the first six months of FY2008-09. The import GD count and export GD count were stood at Rs 87.98billion and 86.91billion respectively, showing some 12 percent growth each as compared to the last corresponding period.

Moreover, it said that MCC has collected Rs 27.76 billion, Rs 8.58 billion, Rs 740 million and Rs 974 million on accounts of sales tax, advanced income tax, federal excise duty (FED) and regulatory duty, depicting 10 percent, 67 percent, 11 percent and 53 percent growth, respectively. The negative trend was also witnessed in special FED, customs duty import, and anti-dumping duty, dropping by 16 percent, 2 percent and 16 percent, respectively.

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Re: Cotton
« Reply #14 on: December 30, 2009, 07:15:35 PM »
China’s tight cotton supply drives prices to record high

BEIJING: Tight cotton supply in China, the world’s largest consumer, after the government sold all of a planned release of its reserves, drove local futures to a record high on Tuesday.

China’s cotton output this year could fall by more than 10 percent to between 6.5 million and 6.7 million tonnes, government authorities said. The most-active May contract at the Zhengzhou Commodity Exchange traded as high as 16,715 yuan ($2,447) per tonne. Trading volume hit record of 644,600 lots (one lot is 5 tonnes). Tight supply in China, the largest importer of US cotton, also pushed up New York cotton futures to close sharply high on Monday. Tight supply and a low domestic harvest have prompted Beijing to increase import quotas for next year. Beijing has sold 2.62 million tonnes of cotton from state reserves this year, but traders said they did not expect the government to release more, even though reserves were believed to total about 1.5 million tonnes. reuters

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Re: Cotton
« Reply #15 on: January 03, 2010, 09:43:58 AM »

Cotton hits all time high of Rs4700 a maund


KARACHI (Nida Siddiqui): Domestic cotton prices hit another all-time high of Rs 4700 per maund on aggressive buying by the textile sector and the exporters, ARY News reported Saturday.

“Fresh deals of some 5,000 bales of Faqeer Wali and Haroonabad (Punjab Region) were finalized Saturday morning at the rate of Rs4700 per maund,” an office bearer of Pakistan Cotton Ginners Association (PCGA) Punjab Circle told the channel.

He said that the cotton prices were increased by Rs200 per maund in a single day trade, indicating textile sector and exporters are in hurry to hedge positions ahead of another price rally.

“World-wide crop shortage has pushed us to export cotton and bag smart profits,” said a Karachi-based exporter.

He said that yarn and cotton exports from the country are gaining momentum and some one million cotton bales’ deals have been obliged in last four months.

“China, India, Bangladesh and some other countries are busy in hefty buying of cotton and yarn from Pakistan these days,” said a senior member of Pakistan Cotton Ginners Association (PCGA).

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Re: Cotton
« Reply #16 on: January 06, 2010, 04:02:58 AM »

Cotton prices set another record


KARACHI (Azhar Ali Khan): Cotton prices on Tuesday set another record of Rs4800 per maund across the country in early trading, ARY News reported.

Senior cotton traders said that the high-quality cotton prices have further increased by Rs100 to Rs4800 per maund. 

“Deals of some 1,200 bales of Rahim Yar Khan and upper Sindh have finalized at the rate of Rs4800 per,” said an office bearer of Pakistan Cotton Ginners Association (PCGA) Punjab Circle.

“Cotton prices seem to march towards Rs5000 per maund level,” said a leading Karachi-based cotton exporter.

He said the cotton is in great demand these days as the textile sector and the exporters are aggressively squaring their positions from an upcoming inflationary pressure.

“No one is ready to believe the cotton would trade below Rs4500 per maund in the short-term,” a senior trader remarked. “… and that is why the cotton is consistently driving upward.”

The cotton production statistics released by PCGA today (Tuesday) shows around 0.7 million cotton bales have so far been exported this season.

“The non-stop international export orders have forced us to hedge positions amid the current price rally,” said another exporter.

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Re: Cotton
« Reply #17 on: May 17, 2011, 11:14:14 AM »

« Last Edit: February 23, 2012, 08:26:06 PM by M&M »
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Re: Cotton
« Reply #18 on: July 14, 2011, 12:44:18 AM »
Cotton domestic prices at 18 months’ lowest

Updated 9 hours ago

KARACHI: Cotton domestic prices have nosedived to its 18 months’ lowest due to a slump in the international market and enhanced production.

Cotton prices in the domestic markets plummeting by Rs400 pegged at Rs6000 per maund, which is 18 months’ lowest.

Cotton production this year as compared to previous year surging by 4 million bales expected to be around 15 million bales. Previous year’s cotton production had remained at 11 million bales.

Cotton price four months ago was at Rs14000 per maund, which due to enhanced production and slump in the international markets came reeling down to even lower than a half.
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Offline Farzooq

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Re: Cotton
« Reply #19 on: July 24, 2011, 06:14:50 PM »
Cotton plunges to Rs 5,000 per maund
Staff Reporter
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Karachi—Cotton price has plunged by Rs 1,000 to Rs 5,000 per maund in Sindh this week due to depressed market on over supply, brokers said here on Saturday. Member of Cotton Brokers and Advisory Committee Amir Naseem said that cotton supply exceeds the demand which plummeted its prices in the market. Cotton price has fallen by a record Rs 3,800 during the season, he added.

He said spot rates of Karachi Cotton Association (KCA) has declined by Rs 700 per maund to Rs 5,500 per maund on July 23, 2011 on lack of interest by the mills and exporters.

Amir said cotton was selling at Rs 5,000 to Rs 5,200 per maund in Sindh and Punjab. Similarly, good quality new phutti price was selling at Rs 2,200 to Rs 2,400 per 40 kg in Sindh and Punjab, he noted.

Binola price also closed lower at Rs 850 to Rs 900 per maund in Sindh and Punjab. Amir said that New York Cotton Futures rates have dropped below $ 1 per pound due to bumper crop in major cotton producers including China, USA, India, Brazil and Australia. They are expected to range between 75 to 80 cents a pound, he observed.
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