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Cotton arrives in ginneries for first time in June

03
Jul '10
About 30,000 bales of cotton from the new season have arrived at the ginneries in June, which has happened for the first time in history. Cotton experts also foresee a bumper cotton crop in the new season, if there are favourable conditions.

Speaking exclusively to fibre2fashion, Mr Sohail Naseem, Chairman of Karachi Cotton Association (KCA) said, “30,000 bales of new cotton crop have arrived in June. It is an early maturing crop as cotton sowing was done early this year.

“Though I think, there will be some gap in August. The Government has estimated 14.5 million bales of output and due to the early crop, we may achieve the target. In the whole world, there will be more of cotton crop this year.

“On the marketing side there is huge demand for cotton, as availability is quite short. Daily consumption in Pakistan is more than 30,000 bales and in total 15 million bales is required, so the arrival of 30,000 bales will not have any effect”, he concluded by saying.

Meanwhile, today, cotton spot rates at the KCA once again moved up to Rs 6,900 per maund (1 maund=82.28 pound) from Rs 6,750 per maund prevailing yesterday.

Fibre2fashion News Desk - India


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