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  #761  
Old 13th August 2011, 12:47 PM
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Default Re: Cotton

chinas import up by 30.89 percent

China imported 157,100 tonnes of cotton in July, up 30.89 perceChina imported 157,100 tonnes of cotton in July, up 30.89 percent from the previous month, the China Cotton Association said on Thursday, citing customs data. The figure was seven percent lower than the same period of 2010, the association said.nt from the previous month, the China Cotton Association said on Thursday, citing customs data. The figure was seven percent lower than the same period of 2010,


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  #762  
Old 13th August 2011, 12:48 PM
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Default Re: Cotton

Govt may allow unrestricted cotton exports in next season
2011-08-12

Government likely to continue unrestricted cotton exports in coming marketing season starting October 1 on higher local supplies and subdued demand.
According to the official sources the government will announce its decision next month on whether to allow unrestricted cotton exports in 2011-12.
  #763  
Old 13th August 2011, 12:51 PM
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  #764  
Old 13th August 2011, 12:56 PM
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Default Re: Cotton

Cotton growers exempted from withholding tax:
On the directives of Prime Minister Gilani, the Federal Board of Revenue (FBR) has decided to exempt cotton growers from paying 3.5 percent withholding tax. An official notification in this regard will be issued in the next couple of days, it is learnt.
“Yes, we have taken the decision to exempt cotton growers from withholding tax and now the ongoing strike should be called off,” Member, Inland Revenue Service (IRS) of the FBR, Khawar Khurshid Butt, confirmed while talking to The News here Friday.
The sources clarified that when the cotton ginners would get cotton from the growers there would be no tax charged at that stage. But the FBR would collect 10 percent withholding tax from commission agents or intermediaries.
Meanwhile, a meeting of sub-group of the Tax Reform Co-ordination Group (TRCG) was held under the chairmanship of finance minister Dr Abdul Hafeez Shaikh on Friday to discuss the strategy for revenue collection for FY 2011-12.
In the meeting FBR presented a strategic plan for revenue collection in FY11-12. Chairman FBR presented the collection details of FY 10-11 and the provisional revenue figures of Rs105bn for the month of July 2011, which shows a healthy growth of 36% compared to last year’s collection for the same month.
  #765  
Old 13th August 2011, 12:57 PM
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Default Re: Cotton

Spot rate raised to Rs 6,400

Official spot rate was higher on the cotton market on Friday amid thin activity, dealers said. The Karachi Cotton Association (KCA) official spot rate was appreciated by Rs 200 to Rs 6,400, they said. In the ready business over 5000 bales of cotton changed hands between Rs 6150-6600 in process of trading, they added.

following deals were reported: 200 bales from Nawab Shah sold at Rs 6150, 400 bales from Khanewal at Rs 6500-6600, 400 bales from Qutub Pur at Rs 6500-6600, 200 bales from Pak Pattan at Rs 6600, 200 bales from Gajjo mandi at Rs 6600, 400 bales fro Bahawal Pur at Rs 6400-6500, 400 bales from Hasil Pur at Rs 6500, 200 bales from Kabirwala at Rs 6500, 200 bales from Vehari at Rs 6500, 200 bales from Jahanian at Rs 6500, 200 bales from Multan at Rs 6500, 200 bales from Haroonabad sold at Rs 6550, 200 bales from Chistian at Rs 6500, 200 bales fro Ahmed Pur at Rs 6500, 200 bales from Bakhar at Rs 6450, 200 bales from Mamo Kanjan at Rs 6450, 200 bales from Bahawal Pur at Rs 6400 and 200 bales from Khan Pur at Rs 6400.
  #766  
Old 14th August 2011, 10:01 AM
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Default Re: Cotton

PM directs FBR to exempt growers from 3.5% withholding tax
ISLAMABAD, Aug 13 (APP): Prime Minister Syed Yusuf Raza Gilani on Saturday directed Federal Board of Revenue (FBR) to exempt growers from levy of 3.5 percent withholding tax. The Prime Minister issued the directive on the request of Pakistan Cotton Ginners Association. The withholding tax will now be deducted from Commission agents by the Ginners and deposited in the government treasury. The Prime Minister said this step would not only remove the malpractices of bogus certificates to avoid taxes, but will also broaden the tax base as registration of commission agents will lead to efficient tax recovery.
  #767  
Old 14th August 2011, 10:02 AM
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Default Re: Cotton

Recent rains may hurt both quantity, quality of cotton
AUGUST 14, 2011

Modest trading was witnessed on the cotton market on Saturday amid slow arrival of phutti in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,400, they said. In the ready business, approximately 3000 bales changed between Rs 6250-6500, they said.

The seed-cotton in Sindh was at Rs 2700-2800 and at Rs 2800-2900 in the Punjab, they added. The mills were active to cover the immediate needs, it is expected that trading activity may pick up as the government has withdrawn 3.5 percent withholding tax from ginners on purchase of raw cotton through the third party, experts said. In the meantime, Pakistan Cotton Ginners Association (PCGA) waiting for the notification by the government.

following deals reported: some 400 bales of cotton from Duar sold at Rs 6250, 600 bales from Khanewal at Rs 6600, 200 bales from Shujaabad at Rs 6500, same figure from Haroonabad at Rs 6500, 400 bales from Bahawal Pur at Rs 6500-6600, same figure from Burewala at Rs 6500 and same number from Gojra at the same rate.
  #768  
Old 21st February 2012, 06:55 PM
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Default Cotton Price Trends Cotton Industry

Latest Cotton Price Trends Report of Cotton Industry

COTTON Highlights from 01-15, Feb 2012

Cotton prices remained almost stable during the first half of this last fortnight in U.S due to good economic results in the United States. Chinese cotton acreage may fall in new season according to a report released by a Chinese cotton body. Cotton prices went down during the second half of this last fortnight on the international market, after inventory levels were strongly raised by US official estimates, as predicted by the US Department of Agriculture (USDA). Cotton prices still remained at high level by historical standards.

  #769  
Old 19th June 2012, 07:05 AM
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Default Re: Cotton

Hi where to trade cotton futures in India. MCX doesn't have much liquidity. no. of contracts traded are very less. Don't know abt NCDEX.

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