The local cotton market was also closed last week due to the Corona Lockdown

why the goverment closed the local cotton market?

The local cotton market has not seen any business since last week due to the Corona Lockdown, which has been going on for almost two months, although the government has partially allowed several industries to do business. I also include the textile industries, it is hoped that in the coming days a partial cotton business will also be able to start, but according to the tradition of each year, cotton traders have started making promising deals, which hints. It has been said that some ginning factories in Sindh province will be partially operational next June.According to the information received, forward contracts have been signed for the delivery of about 20 trucks of crackers in the golden areas of Sindh province, which have been agreed on the condition of delivery from May 25 to June 5 at Rs 3,300 to 3,700 per 40 kg.

Forward deals for 5 trawls of cotton seed cotton have been fixed at Rs 1,725   to Rs 1,750 per man onJune 15 delivery condition. The price of cotton during the last week is considered to be Rs 7,000 to Rs 8,800  per man.The Karachi Cotton Association has kept the spot rate of cotton stable at Rs 8,800 per quintal for the last one and a half months. However, most of the textile mills continue to deliver imported cotton, while many ginners have been waiting hand-in-hand for the last two months, waiting for buyers to stock the 500,000 bales. Mills was closed for about a month and a half due to the Corona lockdown. Its cotton stock is available. Experts believe that the mills will be cautious in buying cotton in the future. Will have to sell cotton at a lower price as an old crop.Chairman Karachi Cotton Brokers Forum Naseem Usman said that sowing of cotton in Sindh is in the final stages while now sowing is increasing. Farmers are complaining about low germination seeds. According to Naseem Usman, they know from informed sources. Although the area under cotton production in the country has not been determined yet, the area of   production is regularly announced by the Federal Committee of Agriculture (FCE) every year in late February and the first week of March. That the sowing of the cotton crop did not even begin. Which did not correspond to the ground realities We have been criticizing them in our columns for many years. Fortunately, this year the Federal Committee of Agriculture, after consulting with stakeholders on cotton production estimates, found the ground realities after the cotton sowing was almost completed. At present, a cotton policy will be formulated for the 2021-2020 season of cotton after consulting stakeholders. However, the long-standing demand of cotton growers to fix the subsidized price of cotton has been ignored for years. It is said that it will be included in the new cotton policy.Naseem Usman said that fluctuations in the price of cotton in the international cotton markets continued. The New York cotton market remained an overall bullish factor. Due to the increase, the price of cotton promised to increase from 57.50 to 58 US cents, but later the promise of burning closed at 55.84 US cents. Cotton prices in China remained relatively stable.