April 12, 2013 (PPI-OT)

Last week, a high-level delegation of American cotton scientists visited Pakistan to review progress and plan new strategies with Pakistani counterparts to fight the Cotton Leaf Curl Virus (CLCV), a devastating disease that affects cotton yields in Pakistan and caused the loss of an estimated 1.5 million bales or 15 percent of this year’s total harvest. The team visited labs in Lahore and Faisalabad and observed experimental disease-resistant cotton breeds grown in greenhouses provided by the U.S.

The cotton market lacked activity and buying remained extremely slow as leading spinners were once again conspicuous by their absence. According to the floor brokers, the amnesty scheme announced by the Federal Board of Revenue (FBR) has created liquidity crunch in the markets, therefore, trading activity in cotton, yarn and fabric markets continue to slow down. However, the FBR has managed to recover around Rs5 to 6 billions from sales tax defaulters causing acute liquidity problem in the markets, told floor brokers. Cotton prices in the international markets also came d

The sowing of BT cotton in Thatta, Badin and other coastal areas of lower Sind has started as these areas are best suited for the crop, sources in the Agriculture Department said.