Cotton market failed to pick up despite withdrawal of duty exemption on import of cotton yarn

Trading activity failed to pick up even after the government’s move to withdraw five percent duty exemption on import of cotton yarn. Cotton trade remained low at the local markets which were against the trader’s expectation as they hoped to see to boost after imposition duty on import of cotton yarn.

The Karachi Cotton Association (KCA) reported few deals exchanging hands, 500 bales of cotton from Akri (Khairpur) at Rs 5300, 300 bales from Korandi (Khairpur) at Rs 5500 and 708 bales from Lodhran at Rs 6350. In the session, around 1500 bales of cotton changed hands between Rs 5300-6350 per maund as compared to 2,300 bales traded at Rs5,200 to Rs6,400 per maund on Saturday

Meanwhile, the KCA continued to keep its cotton spot (benchmark) rate unchanged for the fifth working day at Rs6,400 per maund.

There were several expectations that business will improve after the Economic Co-ordination Committee (ECC) decision, but it failed to improve business sentiment as was expected.

Recent Posts

University of Copenhagen develops nanofibre patch for psoriasis treatment

Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…

12 hours ago

Clothing 2.0, The Marena Group to revolutionize medical garments

Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…

12 hours ago

Polartec expands eco-friendly weather protection fabrics

Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…

13 hours ago

Uncaged Innovations partners to launch leather alternative

Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.

2 days ago

Rudolf enhances digital pigment printing

Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…

2 days ago

Aquafil Group unveils sustainable yarns

Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…

2 days ago