Dear Friends,
Around 600,000 acres of cultivation belt in Sindh has been inundated with rainwater, which has caused a massive damage to standing crops of cotton, sugarcane and other agriculture commodities, Said,Sindh Agriculture Forum .
Rainwater hit around 250,000 acre of the total fields, which are under cotton, 200,000 acres of land with standing sugarcane crop and remaining land inundated in rainwater having vegetables, millet, animal fodder and some lintels.
In Punjab around 10,0000 acres of land was affected with the rainstorm and most of the parts include Rajanpur, Dera Ghazi Khan, Haroonabad, Kasur, parts of Multan district, Vehari and Mailsi etc.
Chairman of SAF Shakeel Ahmad said due to damage to nearly 550,000 bales of cotton in Sindh and Punjab floodwaters, the prices of lint might jump nearly 30 percent in the next coming trading sessions.
"Cotton prices in Pakistan are still lower compared to international prices and this will attract the international buyers especially importers from USA to negotiate deals for fine cotton with Pakistani exporters," Ahmad maintained.
He said due to shipments problems at many ports in USA and Irene hurricane, importers of soft commodities prefer to buy cheap cotton from Pakistan.
Ahmad said 10 percent of the USA cotton also was hurt by the storms and bad weather and due to dull economic and agriculture activities in affected parts, the cotton buyers were intending to make deals with Pakistani lint merchants.
He said Pakistani white gold is still cheaper and available at around 25 to 30 cents per pound less in the international market.
"Local prices will also flare up after deals are negotiated with importers, as exporters will be forced to offer slightly higher price of the lint to growers and ginners," he added.
The current domestic cotton prices per maund are around Rs 6,200 and due to damage reports to 550,000 bales production in floods, the prices will also increase in the local market, he opined.
The cotton industry suffers from variety problems. Although Pakistan is the 4th largest producer of raw cotton but is still far behind in terms of productivity per unit of area when compared with the yields being realised in some other major cotton growing countries.
Yields are not increasing due to absence of virus resistant varieties, emergence of new insect pests such as mealy bug and CLCV and the limited adoption of better scientific cultivation methods.
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Shoaib Habib Memon
Thatta
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