Wednesday , January 27 2021
Home / Misc / Cotton prices in Pakistan in January 2021

Cotton prices in Pakistan in January 2021

Cotton prices in Pakistan in January 2021

KARACHI: Cotton and cottonseed prices have risen sharply in Pakistan’s cotton markets following the release of reports by the United States Department of Agriculture on a sharp decline in cotton production and an increase in consumption this year. The price of cotton has risen by Rs 300 to Rs 10,000 per quintal, reaching a ten-year high once again hit a ten-year high.

The ECC has approved the abolition of regulatory duty on cotton, which will facilitate exports of the garment sector.

Cotton prices in Pakistan October 2020

During Cotton Air 21-2020, the total production of cotton in Pakistan is likely to be 7.5 million bales (160 kg) more than the initial estimates, which is a cause for concern in the entire cotton sector. The consumption of cotton in Pakistan is estimated at 13.6 million bales, which will force Pakistani textile mills to import 5.2 million bales this year. Local textile mills have so far entered into import agreements for more than 1.5 million bales of cotton to fulfill their export orders.

With Pakistani textile mills receiving the highest export orders in history, record consumption of cotton is expected this year, so the federal and provincial governments should ban sugarcane cultivation in the cotton zones of Punjab and Sindh. Pakistan does not have to import billions of dollars worth of cotton and edible oil every year.

Punjab
Name of City Price
Multan3,900-4,650
Bahawalpur4,000-4,600
Khanpur4,000-4,550
Liaqatpur3,950-4,550
Rahim Yar Khan3,900-4,550
Sadiqabad3,900-4,550
Bahawalnagar3,900-4,600
Chishtian4,000-4,600
Hasilpur3,500-4,650
Khanewal3,800-4,700
Mian Channu3,900-4,600
Chichwatni3,900-4,600
Lodhran3,500-4,400
Burewala3,900-4,450
Vehari3,900-4,450
DG Khan3,900-4,400
Sahiwal3,900-4,650
Pak Pattan3,800-4,600
Jhang3,800-4,600

Heavy rains in Sindh this year and attacks by whiteflies and pink cinnabar on the cotton crop in Punjab have led to fears of a record decline in Pakistan’s gross domestic product.