At the cotton market on Tuesday in the process of tight supply of fine quality, dealers said that prices showed modest improvement. Market sources said that the ginners, who have limited stock of unsold quality lint raised prices, so a few needy mills and spinners indulged in fresh buying to meet requirements
The official spot rate gained Rs 50 Rs 5,600 while in ready session, approximately 3000 bales of cotton changed hands between Rs 5300 and Rs 5900, dealers said.
According to cotton analyst, Naseem Usman, both buyers and sellers were confused over non-availability of better variety. The country has to import cotton to meet local demand, he added.
It is felt that the local textile industry was facing hardships in meeting orders from the international buyers due to a short supply of cotton. Hence, the cotton importers have welcomed the government plans to allow import of 300,000 bales to meet textile industry’s demand.
The following deals were reported to have changed hands as per dealers: 1400 bales from Khanewal at Rs 5300-5550 and 1800 bales of cotton from Rahaim Yar Khan at Rs 5900.
Better Earth has introduced the Farmer's Fiber Retail Collection, a new range of BPI-certified, US-made compostable molded fiber plates and…
Researchers have developed an innovative wireless tagging system that can identify objects and measure temperaturE without using traditional microchips.
Avantium has made a major breakthrough in textile recycling, developing a unique method to separate and reuse both cotton and…
Ventile has teamed up with Norwegian brand Northern Playground to introduce a new lightweight anorak designed for both outdoor adventures…
Faherty Brand has announced a new collaboration with Alternew to improve the shopping experience by offering convenient alteration services to…
GFA and PDS Ventures are searching for early-stage innovators with sustainable solutions that can transform the fashion and textile supply…