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Cotton price remain higher despite buying drive to build stocks by spinners

Related Keywords: accumulate maximum stock, bullish, cheap Indian yarn, cotton imports from India, cotton prices remained higher, cotton yarn imports, gain momentum, Leading spinners, Pakistan cotton market, quality cotton, remove indirect ban, striking big lot deals, trading activity

Trading activity at Pakistan cotton market remained bullish with leading spinners indulged in striking big-lot deals to accumulate maximum stock of quality cotton which was still available in abundance though first picking is about to come to an end. As a result, cotton prices remained higher, brokers said.

Buyers were not ready to give up their buying drive in order to build up their stocks, although there were rumors in the trading ring that the government may remove indirect ban on cotton imports from India.

China buys more spun yarn from Vietnam, halves yarn import from India

Related Keywords: China’s yarn imports, cotton yarn exports, cotton yarn imports, Indian yarn shipments to China, India’s spun yarn exports, largest importer of spun yarns, Vietnam’s yarn exports, yarn export from india, yarn export value, yarn export volume

India’s spun yarn exports in September 2016 declined 30.2 per cent in volume terms while it was down 24.3 per cent in value terms. The average per unit realisation was down US cents 3 a kg from previous month and up US cents 24 a kg as compared to September 2015.

China’s yarn imports from Vietnam surged 34% in September from a year earlier whereas Indian shipments to China were down 56%, and imports from Pakistan have lost 30%.

Pakistan govt announced support price of cotton at Rs3,000

Related Keywords: Abbas Khan Afridi, cotton farmers, cotton yarn imports, ECC, Minister for textile and industry, Pakistan cotton industry, TCP, textile package

The Pakistan government has announced Rs 3,000 per 40 kilograms support price of cotton. This was informed by Minister for Textile and Industry Abbas Khan Afridi on Wednesday at the National Assembly.

Also, Trading Corporation of Pakistan (TCP) has been directed to purchase the cotton from the farmers. The Minister said that the government was committed to protect the interest of the farmers and TCP had started to purchase cotton from the farmers.

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