Pakistan Mercantile Exchange – PMEX – COMMODITIES TRADING
PMEX – Pakistan Mercantile Exchange
The use of cotton for fabric is known to date to prehistoric times; fragments of cotton fabric dated from 5000 BC have been excavated in Mexico and the Indus Valley Civilization (modern day Pakistan). Although cultivated since antiquity, it was the invention of the cotton gin that so lowered the cost of production that led to its widespread use, and it is the most widely used natural fiber cloth in clothing today. The largest producers of cotton, currently are China and India, with annual production of about 34 million bales and 27 million bales, respectively; most of this production is consumed by their respective textile industries. The largest exporters of raw cotton are the United States, with sales of $4.9 billion, and Africa, with sales of $2.1 billion. The total international trade is estimated to be $12 billion.
The five leading exporters of cotton in 2011 are (1) the United States, (2) India, (3) Brazil, (4) Australia, and (5) Uzbekistan. The largest nonproducing importers are Korea, Taiwan, Russia, Hong Kong, and Japan..In India, the states of Maharashtra (26.63%), Gujarat (17.96%) and Andhra Pradesh (13.75%) and also Madhya Pradesh are the leading cotton producing states,[ these states have a predominantly tropical wet and dry climate.
In Pakistan, cotton is grown predominantly in the provinces of Punjab, and Sindh. The leading area of cotton production is the south Punjab, comprising the areas around Rahim Yar Khan, Bahawalpur, Bahawalnagar, Multan, Dera Ghazi Khan, Muzaffargarh, Vehari, and Khanewal. In Sindh Sanghar is the most important cotton producing district. Faisalabad is a leader in textiles within Pakistan. Punjab has a tropical wet and dry climate throughout the year therefore enhancing the growth of cotton.
As a cereal grain, Rice is the most widely consumed staple food for a large part of the world’s human population, especially in Asia and the West Indies. It is the grain with the second-highest worldwide production, after maize (corn), according to data for 2010. Since a large portion of maize crops are grown for purposes other than human consumption, rice is the most important grain with regard to human nutrition and caloric intake, providing more than one fifth of the calories consumed worldwide by the human species.
Rice is a major food staple and a mainstay for the rural population and their food security. It is mainly cultivated by small farmers in holdings of less than 1 hectare. Rice is also a wage commodity for workers in the cash crop or non-agricultural sectors. Rice is vital for the nutrition of much of the population in Asia, as well as in Latin America and the Caribbean and in Africa; it is central to the food security of over half the world population. Developing countries account for 95% of the total production, with China and India alone responsible for nearly half of the world output.
As of 2009 world food consumption of rice was 531,639 thousands metric tons of paddy equivalent (354,603 of milled equivalent), while the far largest consumers were China consuming 156,312 thousands metric tons of paddy equivalent (29.4% of the world consumption) and India consuming 123,508 thousands metric tons of paddy equivalent (23.3% of the world consumption). Between 1961 and 2002, per capita consumption of rice increased by 40%.
Wheat is a cereal grain, originally from the Levant region of the Near East and Ethiopian Highlands, but now cultivated worldwide. In 2010 world production of wheat was 651 million tons, making it the third most-produced cereal after maize (844 million tons) and rice (672 million tons). In 2009, world production of wheat was 682 million tons, making it the second most-produced cereal after maize (817 million tons), and with rice as close third (679 million tons).
This grain is grown on more land area than any other commercial food. World trade in wheat is greater than for all other crops combined. Globally, wheat is the leading source of vegetable protein in human food, having a higher protein content than either maize (corn) or rice, the other major cereals. In terms of total production tonnages used for food, it is currently second to rice as the main human food crop and ahead of maize, after allowing for maize’s more extensive use in animal feeds.
Wheat is widely cultivated as a cash crop because it produces a good yield per unit area, grows well in a temperate climate even with a moderately short growing season, and yields a versatile, high-quality flour that is widely used in baking. Most breads are made with wheat flour, including many breads named for the other grains they contain like most rye and oat breads. The popularity of foods made from wheat flour creates a large demand for the grain, even in economies with significant food surpluses.
In recent years, low international wheat prices have often encouraged farmers in the USA to change to more profitable crops. In 1998, the price at harvest was $2.68 per bushel. A USDA report revealed that in 1998, average operating costs were $1.43 per bushel and total costs were $3.97 per bushel. In that study, farm wheat yields averaged 41.7 bushels per acre (2.2435 metric ton/hectare), and typical total wheat production value was $31,900 per farm, with total farm production value (including other crops) of $173,681 per farm, plus $17,402 in government payments. There were significant profitability differences between low- and high-cost farms, mainly due to crop yield differences, location, and farm size.
Wheat futures are traded on the Chicago Board of Trade, Kansas City Board of Trade, and Minneapolis Grain Exchange, and have delivery dates in March (H), May (K), July (N), September (U), and December (Z).
The world produced about 168 million tonnes of sugar in 2011. The average person consumes about 24 kilograms of sugar each year (33.1 kg in industrialised countries), equivalent to over 260 food calories per person, per day. Sugar provides empty calories.
Since the latter part of the twentieth century, it has been questioned whether a diet high in sugars, especially refined sugars, is bad for health. Sugar has been linked to obesity and suspected of being implicated in diabetes, cardiovascular disease, dementia, macular degeneration and tooth decay. Numerous studies have been undertaken to try to clarify the position but the results remain largely unclear, mainly because of the difficulty of finding populations for use as controls that do not consume sugar.
The five largest producers of sugar in 2011 were Brazil, India, the European Union, China and Thailand. In the same year, much the largest exporter of sugar was Brazil, distantly followed by Thailand, Australia and India. The largest importers were the European Union, United States and Indonesia. Currently, Brazil has the highest per capita consumption of sugar, followed by Australia, Thailand and the European Union.
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