Trading activity at cotton market on Monday remained slow as buyers and sellers remained to the sidelines owing to short supply of quality lint and rise in cotton prices. The Karachi Cotton Association also raised its spot rates by Rs50, to Rs6,800 per maund (around 37kg).
According to market estimates, ginners currently hold 500,000 bales of cotton in order to get best prices are careful in disposing of these stocks.
Spinners are facing difficulty in exporting cotton yarn on the world market owing to uncompetitive pri¬¬ces, however, there was fairly good demand for yarn on the local market, brokers said.
Moreover, drop in prices of polyester cotton (PC) influenced by falling global petroleum prices could also encourage the value-added textile sector to use more PC yarn than cotton yarn, they added.
PC yarn prices have dropped to Rs127 a kilogram from Rs129 last week.
On the ready counter, only one deal of 200 bales changed hands officially at Rs7,100 per maund.
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…