No trading activity seen happening at cotton market

With dwindling stock of quality lint, ginners have raised asking price of quality lint due to which not a single deal was finalized on the cotton market on Monday. The official spot rate also remained unmoved at Rs 5,350 dealers said. In the Punjab prices were at Rs 2400 and Rs 3100.

According to market sources, some of the ginners who held back quality lint on hopes of better income in the coming days, raised asking prices, but the spinners showed no interest in fresh buying.

Cotton analyst, Naseem Usman said that late sowing in the Punjab and decline in Indian cotton production creating uncertainties among mills and spinners. In fact, a lackluster business atmosphere is created due to shortage of fine type and wait-and-see attitude by the ginners.

Cotton futures edged lower on MCX due to sluggish demand from traders and stockists at the domestic spot market. Though, some losses were capped on lower production from major producing belts of India and Pakistan

Recent Posts

Indorama Ventures partners for commercial-scale bio-PET bottles

Indorama Ventures has teamed up with Suntory, Iwatani, and others to introduce the first commercial-scale bio-PET bottle, made from certified…

1 hour ago

Milliken & Company launches innovative moisture barrier

Milliken & Company has introduced Milliken Assure, first flame-resistant moisture barrier for firefighter turnout gear that is free from PFAS…

1 hour ago

Paradise Textiles, Kintra Fibers launch bio-synthetic material garment

Paradise Textiles has collaborated with Kintra Fibers, a leader in bio-based fibers, to produce the first garment made from Kintra’s…

2 hours ago

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.

5 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…

5 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…

5 days ago