Local cotton markets in Pakistan witnessed drop in price of cotton to one month low at Rs4,800/maund (37.324 kilograms) as textile mill owners avoided bulk buying on Thursday.
The Karachi Cotton Association kept its official rate unchanged for the third consecutive working day at Rs4,500/maund. It reported maximum price at Rs4,780/maund from Rs4,825/maund a day ago.
Traders bought 9,400 bales at Rs4,550 to 4,780/maund as compared to 10,200 bales bought at Rs4,500 to Rs4,825/maund a day ago, the Association added.
According to a broker at Karachi Cotton Exchange, markets should have showed increase in demand in August. However, slowdown in sales of cotton yarn has not allowed yarn manufacturers to take hefty positions.
On global front, price of cotton at the world leading market, New York, surged considerably. The October futures contract increased by three cents to 65.71 cents per pound, while December futures contract improved 2.87 cents to 64.69 cents per pound,.
Nikwax has unveiled its latest innovation, the Direct.Dry Down line, setting a new benchmark in waterproof down with great performance…
Wrangler x Accelerating Circularity jeans are proving that post-consumer and post-industrial cotton can be effectively reused in everyday clothing.
Swiss cleantech innovator Bcomp has partnered with Japanese composite specialist Tras to bring natural fibre solutions to the world of…
Researchers from MIT and Lincoln Laboratory are developing innovative bioabsorbable fabrics that replicate how soft tissues naturally stretch.
A research team at the University of Limerick (UL) has introduced a groundbreaking method for producing carbon fiber through their…
Circ, Circulose, RE&UP, and Syre, have joined forces to create the T2T Alliance, an initiative focused on driving policy changes…