Prices likely to remain high at cotton market

Dull trading was record at cotton market on Thursday by the Karachi Cotton Exchange. The spot spot rates stood unchanged at Rs6,650/maund (37.324kg) and Rs7,127/40kg.

Ex-Karachi rates also remained unchanged at Rs6,785/maund and Rs7,272/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

KCE recorded domestic transactions of around 2,500 bales in between Rs6,300/maund to Rs7,000/maund from three stations that included Sultanabad, Punj Moro and Bahawalpur.

According to analyst, dull trading activity was recorded, as sellers and buyers wait for cotton arrivals data, which is likely to be released by the Pakistan Cotton Ginners Association (PCGA) on Friday.

Despite abolition of four percent duty on cotton imports, little deals were booked, as prices increased across the globe and buyers preferred local lots. Prices are likely to remain high.

Recent Posts

Moon Boot, Adidas Sportswear to launch apparel collection

Moon Boot partners with Adidas Sportswear, venturing into the apparel market to launch a stylish winter collection that combines fashion…

4 hours ago

Teijin Frontier launches faster biodegradation for plastics

Teijin Frontier Co., Ltd. has globally launched BIOFRONT, an innovative polylactic acid (PLA) resin that biodegrades faster than conventional PLA…

4 hours ago

Xenia Materials launches sustainable 3DF Filament range

Xenia Materials, a leader in high-performance thermoplastics, is set to unveil its new 3DF filament range for FFF 3D printing…

4 hours ago

Nextevo showcases chemical-free pineapple leaf fiber

Nextevo has introduced its 100% chemical-free pineapple leaf fiber to the global market, highlighting its sustainable qualities and versatile applications.

1 day ago

Benin emerges as a sustainable textile production hub

Benin is positioning itself as a new center for sustainable textile production, backed by the Aid by Trade Foundation’s (AbTF)…

1 day ago

Teijin Frontier introduces Octair insulation fiber

Teijin Frontier has announced Octair, an advanced polyester insulation fiber designed for bedding and apparel, making it ideal alternative to…

1 day ago