Fall in cotton prices kept buyers and sellers confuse

Some needy spinners were seen buying at cotton market due to falling cotton prices on Tuesday to replenish their stocks. Due to short crop, cotton prices should have soared and activity should have been brisk, brokers said. However, the situation continued to be uncertain as buyers and sellers remained confused over the rapid changes in the market behaviour.

Fall in US dollar’s value against the rupee forced many ginners to dispose of their stocks in a hurry because import parity of cotton improved.

According to market sources, a fall of Rs1.80 in dollar’s value during the last two days has made cotton import more feasible with a price fall of around Rs120 per maund.

On the contrary, immediately after the release of latest phutti (seed cotton) arrivals figures last week, the market turned dull and gave dismal performance as buyers and sellers took to the sidelines.

Major deals that changed hands on ready counter were: 600 bales from Tando Adam done at Rs5,000, 600 bales Rohri at Rs5,450, 1,000 bales Khairpur at Rs5,300 to Rs5,350, 500 bales Sakrand at Rs5,000, 600 bales Haroonabad at Rs5,200 to Rs5,300, 600 bales Fort Abbas at Rs5,300 to Rs5,350,400 bales Yazman Mandi at Rs5,365, 600 bales Sadiqabad at Rs5,600 and 800 bales Mianwali at Rs5,515 to Rs5,550.

The Karachi Cotton Association (KCA) spot rates remained unchanged while the New York cotton market gave mixed price trend.

Recent Posts

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

2 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

2 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

2 days ago

Yangi launches sustainable fiber-based food tray

Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…

2 days ago

Tarpaulife Project develops alternative to PVC-coated fabrics

The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…

2 days ago

Better Cotton to standardise measurements for cotton production

Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…

2 days ago