The state government of Karnataka, in order to facilitate farmers to sell their produce and get reasonable prices, created Agricultural produce market committees (APMCs) in many towns. Under the supervision of APMC, farmers can sell their produce to agents or traders. APMC, now to further benefit the farmers has taken decision of bringing in cotton under e-trading process.
India sees the possibility of surpassing Chinese cotton output of 6 million tons by touching 6.3 million tons in 2014-15. As China, the largest producer of cotton is expected to witness a decline by 10 percent from 6.7 million tons in 2013-14 to six million tons in 2014-15 mainly due to the Chinese government’s decision to according to the International Cotton Advisory Committee.
Love of natural fibers, cotton fade away as lower priced synthetics attract the designers and consumers in US apparel industry. Cotton is no longer king of the apparel as the American wardrobes has been taken over by synthetic clothing.
US imports of synthetic clothing may overtake cotton garments for the first time in decades this year, while US mills increasingly use artificial blends amid an unexpected revival of the threadbare domestic textile industry.
The cotton trades flourish to the best in Pakistan, as according to the Karachi Cotton Association (KCA) spot rates were steady at previous level and trading on ready counter was fairly moderate. Trading on the cotton market on Thursday remained moderate as spinners and some exporters strived to get hold of any sale offer of quality cotton that came their way.
Cotton trading is expected to remain slow in Pakistan till world leading buyer of the commodity, China returns to work on February 7. However, a few of the mill-owners are making some buying as per their needs.
The situation helped cotton markets generate moderate turnover on a daily basis.
Meanwhile, the KCA kept its cotton spot rate unchanged for the fourth working day at Rs6,950 per maund.
India cotton prices have recovered by 10 per cent since they bottomed in the first week of December at around Rs 18,500 a bale. Robust demand has supported the price. Export numbers suggests till mid-January, 5.5 million bales have been exported. This means 65 per cent of the total estimated exports of 8.5-9 million bales have been achieved in the first four months of the season. As against this, arrivals have been one-third of the total expected crop of 37.5 million bales during the same period. Clearly, higher demand has driven the prices since December.
Shaw and Shaw Farms of Alachua usually grow corn, peanuts and soybeans; have planted about 1,500 acres of cotton in 2013, accounting for the majority of the 2,529 acres in Alachua County. That is up from 69 acres countywide in 2011 and 608 acres in 2012, according to the U.S. Department of Agriculture.
Co-owner Buckley Shaw said that the higher cotton prices, compared with a drop in peanut prices, made cotton more attractive in 2013 as they cut way down on peanut acreage to grow cotton for the first time in 10 years.
The Pakistan cotton production has been unremitting at 13 million bales to 15 million bales since the last five years, despite many experiments based on international and national research, according to informed conveyed on Thursday by The National Assembly’s (NA) Standing Committee on Commerce and Textile
The meeting of the NA’s body was held under the chairmanship of Siraj Khan.
Textile Secretary Rukhsana Shah informed that the textile sector in the country represents a complete value chain and has 35,000 shuttle less looms, 350,000 power looms and 18,000 knitting machines.
Brisk trading of the last two days faded out as ginners were reluctant to sell their stocks at current rates, anticipating a further rise in lint prices in the coming days. The Pakistan cotton market was firm on Wednesday where buyers remained in the forefront.
However, sudden withdrawal of sellers to the sidelines restricted trading activity though the underlying tone remained firm.
Floor brokers said that surge in lint prices on the world cotton markets was the main driving force which made ginners to hold back their stocks hoping prices would rise further on strong demand.
The Nigerian Federal Ministry of Agriculture and Rural Development urged to empower cotton farmers the way it did cassava and rice farmers so that the crop would get a boost.
Pankaj Chawla, Regional Manager, West Africa Cotton Company (WACOT) said that until the end of the value chain was fixed, the crop might take a long way to achieve its value. Cassava farmers are getting their returns because the end of the value chain has been fixed.
