Cotton market witnessed price soaring to a seasonal high for new crop

As panicked spinners continued to book big-lot deals to meet their rising demand amid improved exports, cotton prices hit to a seasonal high for new crop on Thursday at cotton market.

The local market also remained highly volatile as slow arrivals of phutti (seed cotton) failed to meet a surge in cotton demand from spinners, influenced by global factors of a big gap between demand and supply, brokers said.

Most deals in Sindh variety cotton were transpired at Rs6,350 per maund (around 38 kilograms) and that of Punjab quality at Rs6,400 per maund.

However, stakeholders are irked by the Karachi Cotton Association (KCA) for not fixing cotton spot rates in line with current ready counter trend because they believe this distorted the market price-line.

The KCA raised its spot rate by Rs150, to Rs6,000 per maund.

The major deals that changed hands were: 1,200 bales from Mirpur Khas (at Rs6,200 to Rs6,300), 1,000 bales Shahdadpur (Rs6,200 to Rs6,300), 2,600 bales Tando Adam (Rs6,200 to Rs6,350), 1,600 bales Sanghar (Rs6,200 to Rs6,350), 1,000 bales Hyderabad (Rs6,250 to Rs6,350), 200 bales Pak Pattan (Rs6,400), 200 bales Mian Channu (Rs6,400) and 200 bales Chichawatni (Rs6,400).

Recent Posts

Bedsure introduces innovative cooling comforter

Bedsure has introduced Breescape, a new brand designed specifically for people who sleep hot with its main product, the Breescape…

4 hours ago

Archroma unveils sustainable and innovative dye

Archroma, a leader in specialty chemicals focused on eco-friendly solutions, has introduced AVITERA RASPBERRY SE for sustainable dyeing of cellulosic…

4 hours ago

Notts Sport launches turf made from coconut fibers

Notts Sport has launched CocoTurf – the world’s first artificial turf made completely from natural coconut fibers, without using any…

4 hours ago

Kathmandu unveils carbon capture technology activewear

Kathmandu has launched Seeker range, an innovative and sustainable activewear collection that merges eco-friendly advancements with functional design.

3 days ago

GOTS joins Make the Label Count for textile sustainability

The Global Organic Textile Standard (GOTS), managed by the non-profit organization Global Standard, has joined the Make the Label Count…

3 days ago

Pact Group, BlockTexx to boost garment recycling

Packaging company Pact Group has partnered with textile recycling technology firm BlockTexx to develop a system for recycling discarded clothing…

3 days ago