News Tags

Related Keywords: cotton belt, Hovering fears of further rise in rates, make forward buying, official spot rate went up, Pakistan cotton market, propelling mills and spinners, Punjab phutti prices gained, sharp rise in rates, short supply, Sindh seed cotton prices higher, sporadic rains

Sharp rise in rates seen on the cotton market on Tuesday, due to short supply and sporadic rains in some parts of cotton belt. In Sindh seed cotton prices were higher by Rs 50 to Rs 3250 and Rs 3400 and in Punjab, phutti prices gained Rs 100 to Rs 3250 and Rs 3400 per 40 kg, respectively, dealers said.

The official spot rate also went up by Rs 150 to Rs 6,600.

According to cotton analyst, Naseem Usman, mills and spinners have no choice just to buy cotton even at higher prices. Hovering fears of further rise in the rates is propelling mills to make forward buying.

Related Keywords: cotton bales, cotton belt, gain in cotton price, ginning process, maintained rising trend, mills and spinners, Pakistan Cotton Ginners Association, Pakistan cotton market, ready business, seed cotton price, short supply of quality lint, spot rate

Pakistan cotton market due to short supply of quality lint witnessed overnight gain in cotton price on Saturday. In the ready business, around 13,000 bales of cotton changed hands between Rs 5100 and Rs 5500. The official spot rate maintained rising trend for the second day, gaining further Rs 50 more at Rs 5,300, dealers said.

While, in Sindh, seed cotton prices were at Rs 2000-2200, and Punjab prices at Rs 2500 and Rs 2900.

Related Keywords: Bathinda, cabinet approval, cotton belt, Malwa region, provide training, textile hub, Textile Ministry, Textile Park, Textile skill centres, various vocations

The cabinet has approved proposal put forward by Harsimrat Kaur Badal, Bathinda MP and union food processing industries minister for opening of two textile skill centres in Malwa region. One such centre would come up in a rural area of Bathinda and the other in Mansa.

Two days ago, the minister was inform about opening of two centres in the region by the textiles ministry.

Bathinda is known as cotton belt and the Centre wants to develop it as textile hub and opening of skill centres is the first step, the minister said.

Related Keywords: Chinese government, cotton belt, cotton sowing, cotton stockpiling policy, crop-subsidy programme, erratic rains, international cotton price, Maharashtra farmers, surplus cotton, Vidarbha farmers

Farmers in Maharashtra’s cotton belt forced to sow their fields a number of times due to erratic rains which has increased individual debts, as farmers who exhausted their institutional credit have borrowed money from informal moneylenders to finance the replanting of fields, raising the spectre of further deaths around harvest time.

Recent reports suggest the rainfall deficit in Maharashtra's cotton belts of Vidarbha and Marathwada has widened; Marathwada is now facing a 60 percent deficit, while the shortfall in Vidarbha is 23 per cent.