Cotton trading lacked buying interest

Cotton trading on Monday lacked buying interest and closed easy in line with the global trend. Cotton market was adversely affected by slow arrivals of phutti (seed cotton).

Moreover, a crisis-ridden textile industry is cautious and seems to be in no hurry to build up stock from the new cotton crop, they maintained.

Recent rains across the country also hampered cotton picking both in Sindh and Punjab which restricted the availability of cotton.

Trading on the ready counter also remained slow. Major deals that changed hands were: 1,200 bales from Shahdadpur at Rs6,100 to Rs6,150 a maund, 800 bales from Tando Adam at Rs6,100 to Rs6,150, and 800 bales from Sanghar at Rs6,100 to Rs6,150.

At the Karachi Cotton Association, which fixed the new crop spot rates two days ago, adjusted them downward by Rs100 to Rs6,100 a maund (37.324 kilograms).

Recent Posts

Virgio, Ola Electric offer sustainable festive deliveries

Sustainable fashion brand Virgio has partnered with Ola Electric to offer eco-friendly doorstep deliveries of its products during the festive…

3 hours ago

Kingpins pop-up highlights denim innovation

Kingpins Hong Kong hosted its second annual pop-up event at the DX Design Hub, putting the spotlight on denim innovation…

3 hours ago

AATCC, TAI partner to strengthen Indian textile industry

The American Association of Textile Chemists & Colorists (AATCC) has signed a Memorandum of Understanding (MOU) with The Textile Association…

3 hours ago

Under Armour partners to develop microfibre release test

Under Armour, Hohenstein and PPT Group, has introduced a standardised method to measure microfibre release from textiles during simulated washing…

1 day ago

RISE for Impact advances work standards in the cotton supply chain

The RISE for Impact project is collaborating with farmers in the cotton supply chain to promote decent work by integrating…

1 day ago

Cosmo first launches advanced PPFs for vehicle exteriors

Cosmo First has unveiled its new range of Paint Protection Films designed to protect vehicle exteriors with advanced features ensuring…

1 day ago