Punjab Cotton Market overnight Commentary – 12:35. PM – November 21, 2016
The Punjab market – Saturday – 19/11/2016: was almost unchanged, some more activity on buying was seen in the domestic market due to Pakistan & India border tension. New Cotton (Crop 2016-17) was traded at an idea price of between the ranges of Rs.6000- 6400 per maund. New Seed cotton (phutty) (Crop 2016-17) was also traded at an idea price of between the ranges of Rs. 2300 – 3500 per maund.
Sindh Cotton Market overnight Commentary – 12:30. PM – November 21, 2016
The Sindh & Baluchistan cotton markets were decreased on Saturday – 19/11/2016, some more buying activities have been seen in the domestic market due to Pakistan & india border tension. Cotton new (Crop 2016-17) traded at an idea price of between the ranges of Rs.6400 – 5000 per maund while Seed cotton New (phutty) crop 2016- 17 was traded at an idea price of between the ranges of Rs. 2000 – 3225 per maund.
Nearly 8.78 million bales of cotton reach ginneries – 12:25. PM – November 21, 2016
Pakistan Cotton Ginners Association (PCGA) has issued the figures of cotton arrival up to November 15, 2016. Seed cotton (Phutti) equivalent to over 87,80,543 bales of cotton have reached ginneries across Pakistan as on November 15, showing an increase of 9.49 percent compared to corresponding period last year when ginneries received 80,19,613 bales.
Over Rs 19 billion inconsistency in subsidy of urea, DAP – 12:15. PM – November 21, 2016
There is an inconsistency of over Rs 19 billion in the subsidy for urea and DAP in the current fiscal year between what was budgeted by the Ministry of Finance and what is in documents of the Ministry of National Food, Security and Research (MNFS&R).
Finance Minister Ishaq Dar in his 2016-17 budget speech announced a Rs 46 billion subsidy on fertiliser – Rs 36 billion on urea and Rs 10 billion on DAP – to support the agriculture sector against rising cost of inputs – which was to be equally shared between the federal and provincial governments.
Textile sector, manufacturers-cum-exporters allowed to avail one percent to four percent DLTL – 11:30. AM – November 21, 2016
The manufacturers-cum-exporters of textile sector have been allowed to avail 1 to 4 percent drawback of local taxes and levies (DLTL) on annual basis taking into account the freight on board (FOB)-realised values of enhanced exports for 2015-16. According to the order that is “Drawback of Local Taxes and Levies 2016-17” issued by the Ministry of Textile Industry here on Friday, the drawback will be available on annual basis on FOB-realised values of enhanced exports for shipments made during 2015-16 if increased beyond 10% over last year’s exports ie 2014-15.
NYBOT Cotton Future Contracts Closing – 10:30. AM – November 19, 2016
As on 18 November 2016 (1 USD = 104.40 PKR)
|Month||C/lbs||PKR / maund|