ISLAMABAD: Cotton Crop Review Committee would meet on Tuesday (tomorrow) to review cotton prices, besides discussing means to ensure fair prices to local farmers for their products during the crop season 2021-22.
Besides, the meeting would also take stock of weekly prices trend of cotton crop in local and international markets, said Cotton Commissioner in the Ministry of National Food Security and Research Dr Khalid Abdullah.
Talking to reporter here on Monday, he said that the government has approved cotton intervention price at Rs 5, 000 per 40kg for cotton crop 2021-22 to encourage local farmers to revive the shrinking cotton crop, adding that a Cotton Price Review Committee was constituted and tasked for monitoring cotton price in the country.
So far cotton crop output was encouraging, which was mainly attributed with increasing rate of return in international markets, he said adding that favourable weather conditions and less pest attacks on the crop was among the other reasons of healthy production during the period under review.
Dr Abdullah said that incentives announced by the government like provision of subsidy on agriculture inputs including fertilizers, pesticides and availability of quality seed also helped in reviving local cotton crop, adding that local farmers were also provided training on best crop management practices.
Cotton Commissioner further said that special training workshops were also arranged across the crop producing areas in the country on clean cotton picking to produce pollution free cotton, adding that it would also increase farm income and proper rate of returns for farmers.
Owing to the incentives and policy measures introduced by the incumbent government, he said that cotton arrival in the local markets has witnessed about 101.68 % increase as compared the arrival of the corresponding period of last year.
He said that by October 01, 2021 over 3.846 million bales arrived in local markets as compared the arrival of 1.907 million bales of corresponding period of last year.
According the data of Pakistan Cotton Ginners Association, over 3.423 million bales arrived for pressing as against the 1.604 million bales of same period last year.