Cotton Alert 2016 – 17 –03:00. PM – July 25, 2016
Shahdadpur – Sindh Cotton traded at idea price 6450
Punjab Cotton Market overnight Commentary –01:05. PM – July 25, 2016
The Punjab market – Saturday – 23/7/2016: was almost stable, due to rise in demand and because of low availability of cotton stock in international & domestic market, and as more rains are expected, there would be an increase in buying activities too. New Cotton (Crop 2016-17) price was traded at an idea price of Rs. 6575 per maund while prices for the old (Crop 2015-16) price were not available. New Seed cotton (phutty) (Crop 2016-17) traded at an idea price of between the ranges of Rs. 2800 – 3450 per maund but price for old Crop 2015-2016, was not available.
Sindh Cotton Market overnight Commentary –01:00. PM – July 25, 2016
The Sindh cotton market had been decreased on Saturday – 23/7/2016, but buying activities had gone up, due to demand in rise & because of low availability of cotton stock in international & domestic market. Cotton new (Crop 2016-17) traded at an idea price of between the ranges of Rs. 6475 – 6625per maund while prices for the old (Crop 2015-16) were not available. Seed cotton New (phutty) crop 2016- 17 was traded at an idea price of between the ranges of Rs. 3225 – 3400 per maund but prices for Seed cotton old (phutty) Crop 2015-2016, were not available.
Today KCA Spot Rate –12:55. PM – July 25, 2016
Today Karachi Cotton Association (KCA) spot price decreased by 200 at (New Crop 2015 -16) 6200 per maund Ex- Gin.
Cotton sowing target missed by wide margin of 21 percent –12:50. PM – July 25, 2016
Pakistan has missed the cotton sowing target by a wide margin of 21 percent in the current crop season. As a result, the country would miss the production target of 14.1 million bales by over 25 percent. The official sources at the Ministry of Textile Industry revealed to Business Recorder that cotton crop prospects for the current season (2016-17) are not very bright as sowing target has been missed by a big margin of 21 percent.
Freight charges, Fertiliser import cost to be passed on to farmers –12:35. PM – July 25, 2016
Fertiliser importers on Friday contested the government’s decision in the federal budget to provide a 50kg bag of di-ammonium phosphate (DAP) fertiliser for Rs2,500 and forced the government to pass the freight charge on to the farmers.
In this regard, a new formula has emerged between the fertiliser importers and the government after the former refused to bear freight charges on the imported DAP.
Textile exports fall by 7.42 percent in fiscal year 2016 –12:05. PM – July 25, 2016
The country’s textile exports declined by 7.42 percent during the just concluded fiscal year as compared to subsequent fiscal year of 2014-15 after exports deteriorated to $12.455 billion from $13.453 billion, according to Pakistan Bureau of Statistics (PBS). As per PBS trade figure of last fiscal year, the textile sector experienced a massive decline in their export during the last fiscal year. Exports of raw cotton witnessed a 47 per cent decline during 2015-16 compared to the same period a year after its exports deteriorated to $76 million from $147 million.
NYBOT Cotton Future Contracts Closing –10:25. AM – July 23, 2016
As on 22 July 2016 (1 USD = 104.40 PKR)
|Month||C/lbs||PKR / maund|