Last Updated on Tuesday, 30 November 1999 05:00 Monday, 08 August 2011 09:58
LAHORE (APP) – Farmer Associates Pakistan (FAP) has demanded the government immediately direct Trading Corporation Pakistan (TCP) to enter the market and start buying lint at Rs 7,000/37. 324 kg till the market stabilises.
In a meeting of Board of Directors of Farmers Associates Pakistan (FAP) held here Sunday under the chairmanship of Syed Hussain Jahania Gardezi, Vice Chairman FAP, board members called upon the government to intervene for stabilizing fluctuating Phutti prices to safeguard cotton growers of the country.
The FAP Board of Directors was deeply concerned about the current cotton situation in which black marketing of urea fertiliser along with volatility in cotton prices was de-motivating cotton farmers.
The cotton crop is in its middle season during which farmers have to be highly motivated and Phutti prices at below 2800/40kg are already frustrating cotton farmers as it is not even covering their cost of production, they noted.
The unavailability or high prices of urea was discouraging them to use it in the required amount which may lead to a situation where Pakistan may not achieve the estimated target of 15 million bales, they feared.
FAP President Dr Tariq Bucha said that months of August and September were very important for the cotton crop. During the months farmers need to be vigilant about pest, which can affect the crop badly and reduce produce, he added.
He said that use of fertiliser should be completed by August or maximum by early September. This year, cotton was sown early as compared to last year which would lead to early arrival of cotton in the market, he added.
The unusual phenomenon has caused unprecedented fluctuation in the cotton market as it has resulted in an artificial supply and demand gap, he added.
These factors can affect cotton production in the current year and if the government failed to come up with some effective measures to countercheck these problems, it may have a deep and adverse impact on the national economy, he added.
In the situation, Pakistan may lose $1. 5 billion foreign reserves on imports to meet the shortfall of 2. 3 million bales, he feared.
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