Saturday , February 4 2023

Cotton prices in Pakistan January 2023

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 hitting a ten-year high.

Cotton prices in Pakistan January 2023

The ECC has approved the abolition of regulatory duty on cotton, which will facilitate exports of the garment sector. The price of cotton in Pakistan has reached Rs 11,500 per quintal, which is the highest price in 11 years. Cotton production per hectare has dropped to 51% which is the lowest level in 10 years. In Pakistan last week, there was an upward trend in cotton prices, due to which the cotton prices reached the highest level of the last four months to 22 thousand rupees.

Cotton prices in Pakistan in April 2021

kapas ka rate in Pakistan today 2023

Pakistan January 2023 24 will cotton price increase or decrease. Due to lack of research development in Pakistan, the quality of cotton seeds is deteriorating and the country has to rely on imported cotton to meet its needs. Despite being an agricultural country, cotton production is declining due to which the textile industry is facing shortage of raw material.

Price of cotton seed

The price of cotton seed is Rs. 5700 per 40 kg. 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.

Although there has been a record decline in cotton production in Pakistan this year, experts and those associated with the sector have long pointed out that the country is witnessing a steady decline in the cultivation of this crop. According to Amir Hayat Bhandara, the record decline in cotton production this year was not sudden but was steadily declining. The decreased area under cotton cultivation, climate change and poor batches in the last few years have severely affected the overall cotton crop production and today the situation has reached a point where Pakistan has a record for textile production. Cotton has to be imported from abroad.

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. Last year, the cotton crop was severely damaged by a locust heart attack.

cotton rate1 January 2023

The price of cotton in Pakistan has increased by Rs. 200 per quintal. Cotton prices in the United States have also reached new highs in the last three years. Cotton sowing has started in the coastal cities of Sindh. The federation has decided to give a subsidy of Rs 1,200 per acre to the farmers for the eradication of whitefly.

Cotton Price Per 40 kg in Pakistan

Punjab
Name of City  Price
Multan 3,900-4,650
Bahawalpur 4,000-4,600
Khanpur 4,000-4,550
Liaqatpur 3,950-4,550
Rahim Yar Khan 3,900-4,550
Sadiqabad 3,900-4,550
Bahawalnagar 3,900-4,600
Chishtian 4,000-4,600
Hasilpur 3,500-4,650
Khanewal 3,800-4,700
Mian Channu 3,900-4,600
Chichwatni 3,900-4,600
Lodhran 3,500-4,400
Burewala 3,900-4,450
Vehari 3,900-4,450
DG Khan 3,900-4,400
Sahiwal 3,900-4,650
Pak Pattan 3,800-4,600
Jhang 3,800-4,600

Due to the trend of extraordinary growth in cotton prices in Pakistan last week, cotton prices reached the highest level of 20 thousand rupees in the last three months. Rather, this will also eliminate concerns about the non-functionality of the ginning sector in the coming years.

This year, the total domestic production of cotton in Pakistan has fallen to the lowest level in history, more than 60 percent of textile mills have been completely or partially closed, and cotton prices have fallen to 16/17 thousand rupees due to a record reduction in cotton purchases in the entire ginning sector. Concern was being seen and many cotton ginners were on the verge of bankruptcy, but due to the increase in cotton yarn prices and the appreciation of the dollar, cotton prices have seen a sharp upward trend and cotton prices have reached Rs 20,500 per maund on late payment. .