Spot rate gains over Rs 1,000 amid weak activity – Markets

LAHORE: The Karachi Cotton Association (KCA) Spot Rate Committee on Saturday raised the spot rate by Rs 1,000 per maund and was available at Rs 22,500 per maund.

The local market remained bullish and trading volume remained low.

Cotton analyst Naseem Usman said the cotton rate in Punjab and Sindh is between Rs 22,000 and Rs 23,000 per maund.

400 bales of Rahim Yar Khan were sold at Rs 23,000 per maund. New Kappas from Samaro were available at Rs 1000, the fare of New Kappas from Jhudo, Not Kot was available at Rs 10,800 while the fare from New Kappas from Badin and Gularchi was 10,200. Rs 10,000 and Rs 10,500.

Agricultural experts highlighted the need to promote innovative, economically efficient and environmentally friendly solutions for agricultural production to improve production and the income-generating capacity of farmers. These observations were made by stakeholders at a three-day organic cotton workshop here on Thursday.

Speakers called for organic cotton production which aims to bring sustainability by reducing the use of pesticides, synthetic fertilizers and water.

It was also pointed out that organic cotton supports biodiversity conservation and promotes agroforestry in Pakistan, while conventional cotton production practices with excessive use of chemical fertilizers and pesticides pose a threat to wildlife and lead to the degradation of habitats and ecosystems.

Speaking on the occasion, Dr. Masood Arshad, Senior Imprint Director, WWF-Pakistan, said Pakistan is the fifth largest cotton producer in the world and has the third largest cotton spinning capacity in Asia, after China and India.

He said WWF-Pakistan promotes organic cotton with sustainable practices, which resulted in a 22% reduction in pesticides, a 12% reduction in irrigation water use and a 19% reduction in % synthetic fertilizer usage, which ultimately lowers the price per unit. greenhouse gas emissions at the farm level, compared to cotton produced by non-participating farmers. This has helped to empower disadvantaged groups in society who largely depend on cotton production, he added.

Syed Habib Shah from Balochistan said, “We, together with WWF-Pakistan, are very excited to promote organic cotton production and ensure its certification to global organic standards.” He added that Balochistan holds huge potential for organic farming and with joint efforts and some necessary developments; we can gain a great benefit for the farming community and the economy of the country.

Dr Shafqat Saeed, Dean of MNS Multan University of Agriculture, said now is the time to develop synergies and shift our conventional agriculture to nature-based agriculture.

He said that at MNS University, we experiment and formulate the best organic solutions to promote soil and plant health and support organic agriculture in Pakistan.

The Karachi Cotton Association spot rate committee increased the spot rate by Rs 1,000 per maund on Saturday and was available at Rs 22,500 per maund. Polyester fiber was available at Rs 303 per kg.

Copyright Business Recorder, 2022

About Lolita Plowman

Check Also

Women-Led Startups Help Family Farmers Feed Latin America | Food

RIO DE JANEIRO/BOGOTA – Brazilians are no strangers to bouts of high inflation, but when …