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.
Union Minister of Textiles interacted with industry leaders, presenting the potential of alternative and allied fibers to boost India's textile…
Princeton researchers have developed a cost-effective 3D printing method allowing to produce materials combining stretchiness, flexibility, and recyclability.
Researchers are working to create durable materials from tough nut shells to create energy-efficient, biodegradable materials for use in packaging…
Scientists at the University of Southern California (USC) have developed an innovative process that uses a special fungus to recycle…
VIP Clothing has entered a new market segment with the launch of branded handkerchiefs while also expanding its presence within…
Cotecna has officially opened its new Softlines Testing Laboratory in Tirupur. The inauguration was led by Amit Chopra, along with…