ISLAMABAD: The Cotton Crop Assessment Committee (CCAC) on Friday estimated local crop output season at 9.451 million bales as against the set production targets of 12m bales.

Sharing details, Cotton Commissioner Dr Khalid Abdullah said a meeting to assess the current crop volume was chaired by Minister for National Food Security and Research Makhdum Khusro Bakhtyar.

Dr Abdullah briefed the meeting that cotton output in Punjab province was expected to reach 6.671m bales and in Sindh it was assessed at 2.68m bales. Crop output of Balochistan was estimated at 0.098m bales, he added.

The commissioner noted that the crop faced extraordinary temperature increases during the critical stages of crop development followed by an unexpected rise in temperature by 2 to 5 degrees Celsius during September.

“Such harsh temperature affected the plant nutrition development capability and puts the plant under stress, thereby hampering late season fruit development,” he added.

Similarly, he said irrigation water shortage in Sindh, especially during critical stages of crop development, was another major issue. “Severe attack of pink bollworm both in Punjab and Sindh, white fly attack, lower seed cotton prices with rising input costs remained the key elements affecting cotton production,” he said.

Representatives of provincial government of Punjab, Plant Protection Department, Trading Corporation of Pakistan , Federal Seed Certification and Registration Department , Pakistan Central Cotton Committee and All Pakistan Textile Mills Association attended the meeting.—APP

Cotton prices steady

KARACHI: Amid slow trading, the cotton market on Friday remained steady as lint prices generally remained fixed around overnight structure. Overall the underlying sentiment remains weak and outlook uncertain.

Trading remained focused around quality cotton and some leading textile spinning groups managed to get hold of big lot deals of quality lint.

According to market sources, the nearing of bank closing date on Dec 31, 2019 has slowed down trading activity and money circulation in the markets has declined.

Cotton analysts believe that in coming days lint prices would surge on higher demand but in case the government reduces or withdraws duty and taxes on import of cotton it would bring rates under pressure.

Ginners are strongly opposing withdrawal of duty and taxes on import of cotton and demand that till such time domestic stocks do not get exhausted the government should not withdraw these levies. On the global front New York cotton market gave mixed to steady trend while Chinese cotton was firm and Indian cotton moved further down.

The Karachi Cotton Association (KCA) spot rates were firm at overnight level at Rs8,800 per maund.

The following deals were reported to have changed hands on ready counter: 1,600 bales, Haroonabad, at Rs8,700; 1,200 bales, Rahim Yar Khan, at Rs9,000; 1,400 bales, Fort Abbas, at Rs8,500; 1,000 bales, Taunsa Shareef, at Rs8,150; 400 bales, Kahror Pakka, at Rs7,850; and 200 bales, Chichawatni, at Rs7,550.

Published in Dawn, December 28th, 2019