Rising demand for quality cotton pushes prices higher

Trading activity at Pakistan cotton market witnessed rising demand for quality cotton pushing prices higher on Thursday where leading spinners and some exporters remained in the front of buying spree.

The Karachi Cotton Association’s spot rates saw rise by Rs50, to Rs6,300 per maund (around 37 kilograms).

Buyer remain under panic due to confusion over cotton imports from India and indirect ban based on reports that Indian cotton shipments failed to fulfil phyto-sanitary certification, threatening the $822 million-a-year trade.

Spinners on their part are perturbed over the issue because they fear that this will trigger higher imports of cotton yarn from the neighbouring country and work against their interest.

Meanwhile, the textile industry in Punjab has been agitating over higher gas prices and lower pressure and claimed that over half of different industrial units have closed down.

The parent body of the textile sector, the Pakistan Textile Exporters Association, has decided to observe black day on Dec 6 to mark their protest against shortage and high prices of gas in Punjab.

Following major deals on the ready counter were seen changing hands: 1,000 bales from Sanghar done at Rs5,900, 1,200 bales Khair¬pur (Rs6,150 to Rs6,200), 2,000 bales Saleh Pat (Rs6,250 to Rs6,300), 2,000 bales Rohri (Rs6,250 to Rs6,300) and 1,000 bales Ghotki (Rs6,500 to Rs6,575).

Recent Posts

Oysho, Fulgar launch sportswear collection with sustainable yarn

Oysho, the sportswear and leisurewear brand, has collaborated with Fulgar to introduce a new eco-friendly activewear collection made with Q-Cycle…

7 hours ago

Autoneum launches lightweight e-fiber shields

Autoneum has developed E-Fiber flame shields for electric vehicles, which stand out for their high-temperature resistance, lightweight structure and durability.

7 hours ago

McLaren unveils ART carbon fiber for next-gen supercars

McLaren has introduced a world-first innovation in supercar engineering, Automated Rapid Tape (ART) carbon fibre redefining performance while reducing waste.

7 hours ago

Delius pioneers sustainable flame-retardant fabrics

Delius, a renowned textile manufacturer based in Bielefeld, Germany, is setting new benchmarks in sustainable contract fabrics with its EcoSafe…

1 day ago

Bank & Vogue elevates circularity upcycled collaborations

Bank & Vogue, the parent company of Beyond Retro, is redefining sustainability in the fashion industry through groundbreaking upcycling projects.

1 day ago

Ravel secures funding to transform textile recycling

Ravel, a recycling startup, has successfully closed its pre-seed funding round, marking a major milestone in its mission to revolutionize…

1 day ago