The Pakistan cotton market witnessed local spinners worried over stock piling of yarn on Wednesday. According to Cotton Analyst, Naseem Usman, local spinners have shown signs of worry about the stock piling of yarn due to import of same from India. Moreover, the textile sector is currently faced with liquidity crunch owing to slow off-take of cotton yarn in the domestic market.
The government needs to take necessary measures to check flow of cheap cotton yarn from across the border to stop this situation.
The official spot rate remained unchanged at Rs 6800. Prices of seed cotton in Sindh per 40 kg were at Rs 2400-3100, in Punjab, rates were inert at Rs 2400-3200, dealers said. In the ready session, 4200 bales of cotton changed hands between Rs 6700-7100, dealers said.
The following deals were reported: 400 bales of cotton from Haroonabad at Rs 6700, same figure from Fort Abbas at Rs 6800 and 3000 bales from Sadiqabad at Rs 7100.
The New York cotton market moved higher for second consecutive session where all the future contracts ended with fresh gains.
Indorama Ventures has teamed up with Suntory, Iwatani, and others to introduce the first commercial-scale bio-PET bottle, made from certified…
Milliken & Company has introduced Milliken Assure, first flame-resistant moisture barrier for firefighter turnout gear that is free from PFAS…
Paradise Textiles has collaborated with Kintra Fibers, a leader in bio-based fibers, to produce the first garment made from Kintra’s…
Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.
Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…
CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…