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Heavy rains and floods destroy Punjab cotton fields
05
Aug '10
Punjab faces heavy floods, which has swamped cotton fields, thereby, threatening the commodity's production, which might slump by 1-3 million bales.

As per cotton analysts, continuous rains and floods have destroyed cotton crop from Mianwali to Alipur. Rains and floods have damaged fields in Piplan Layyah, Rajanpur, Mianwali, Mithankot and Rahimyar Khan.

Analysts had earlier anticipated production of around 14 million bales from cultivation of more than 3.2 million hectares. However, post rains and floods, fresh figures reveal that, the yield might fall down by 1-3 million bales. Moreover, quality of the produce is also likely to get adversely affected.

Around a month back, predictions were made wherein, it was said that, Pakistan will harvest a cash crop of more than 15 million bales. This prediction was made on the basis of cotton being sown over the targeted area and the beneficial rains.

Around two weeks back, prices had dropped to Rs 5,300 a maund (37.324 kg) owing to better crop in Punjab and its initial supply to ginning factories. However, now due to disturbance in supplies, prices have increased to Rs 6,700 a maund.

Pakistan's annual consumption of cotton is predicted at 16 million bales. Even last year, government had fixed cotton production target of 13.36 million bales, but in-hand production achieved was 12.6 million bales.

Fibre2Fashion News Desk - India

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