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Cotton prices to rule firm: Experts' Say
30 Aug '10
6 min read
Bringing to notice, he said- “As you are aware that Pakistan cotton is early crop which normally start from August onward, many buyers at consuming country as well as local Pakistan spinners need to cover their requirements from August onward from Pakistan, which is unfortunately hit by the flood, thus resulting price hikes both locally and internationally. “
Thereon adding a bit of optimism in the atmosphere and concluding on positive note, Mr Sohail explained- “From October onward gradually crops start coming in market with Indian cotton first, followed by cotton from West Africa, CIS, USA, Australia and Brazil. Till to date we estimate that this 2 million bales damage/loss will be compensated by higher productions in India and US. We estimate that once other crops start coming in the market, things will be settled down, and market may be out of steam.”
Thereon adding a bit of optimism in the atmosphere and concluding on positive note, Mr Sohail explained- “From October onward gradually crops start coming in market with Indian cotton first, followed by cotton from West Africa, CIS, USA, Australia and Brazil. Till to date we estimate that this 2 million bales damage/loss will be compensated by higher productions in India and US. We estimate that once other crops start coming in the market, things will be settled down, and market may be out of steam.”
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