Fair trading activity seen at cotton market in Pakistan

The cotton market in Pakistan on Tuesday witnessed fair trading activity on Tuesday. According to floor brokers, slump in cotton yarn market coupled with falling trend in world markets is keeping pre¬ssure on lint prices.

Other major factors affecting cotton prices are higher arrivals of phutti (seed cotton) but slow off-take of cotton from spinners and exporters.
According to market rep¬orts, the state-owned Trading Corporation of Pakistan (TCP) after doing sample verification continues to lift contracted cotton from ginners but at slow pace is hardly having an impact on lint prices.

However, the corporation has started cancelling all those contracts with ginners who failed to meet the 15-day delivery period

The following major deals were finalised on ready counter: 600 bales Shah¬dadpur at Rs3,600, 1,000 bales Haroonabad at Rs4,825, 2,000 bales Bah¬awalpur at Rs4,875-4,950, 2,400 bales Ahmedpur at Rs4,900-4,950, 1,000 bales Rajanpur at Rs4,950, 600 bales Muhammadpur De¬w¬an at Rs4,950, 1,000 bales Rahimyar Khan at Rs5,000, 1,400 bales Layyah at Rs4,950, 400 bales Fazilpur at Rs5,000 and 600 bales Mianwali at Rs5,100.

The spot rates remained uncha¬nged at previous level at the Karachi Cotton Asso¬ciation (KCA).

On global front, the New York cotton market opened the week on easy tone where all the future contracts closed with moderate losses.

Recent Posts

Carnegie introduces innovative upholstery fabric

Carnegie, a leader in sustainable textiles and acoustical solutions for commercial spaces, has unveiled Siltech Plus as part of its…

39 mins ago

MYGroup launches sustainable textile project in Sri Lanka

Waste management and recycling company MYGroup is launching an innovative project in Sri Lanka to promote sustainable textile production and…

43 mins ago

Cibutex and Reju join forces for sustainable textile recycling

Cibutex has partnered with Reju to create a network among Cibutex member companies to support circular textile regeneration.

49 mins ago

Better Earth unveils biodegradable fiber tableware

Better Earth has introduced the Farmer's Fiber Retail Collection, a new range of BPI-certified, US-made compostable molded fiber plates and…

23 hours ago

Engineers develop wireless tags using carbon fibers

Researchers have developed an innovative wireless tagging system that can identify objects and measure temperaturE without using traditional microchips.

23 hours ago

Avantium unveils breakthrough for recycling polycotton blends

Avantium has made a major breakthrough in textile recycling, developing a unique method to separate and reuse both cotton and…

2 days ago