Low participation of spinning mill-owners in cotton trading continues waiting for a decline in cotton price had kept the cotton trading turnover at low.
Traders exchanged mere 4,863 bales (of 155 kilogram each) at Rs5,800 to Rs7,050 per maund as compared to 6,140 bales traded at Rs6,700 to Rs7,050 per maund a day ago, according to Karachi Cotton Association.
The Karachi Cotton Association on Thursday fixed the official spot rate or base price for Grade 3 cotton at 7,395 rupees per maund (40 kg).
Cotton analyst, Naseem Usman said that ginners were sidelines as they were not in a hurry to sell at the present level. The other main concern is availability of Indian cotton at the low rates.
The ginner may be forced to reduce cotton price in days to come with the downward trends going on at the world benchmark cotton market, New York, and low sales of Pakistan cotton-yarn.
Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…
Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…
Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…
Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.
Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…
Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…