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Related Keywords: cotton price, Karachi Cotton Association, spot rate

Karachi cotton market failed to witness any improvement in trading activities due to which the Karachi Cotton Association (KCA) went down to revise its cotton spot rate by Rs50 per maund to Rs6,900 per maund on Monday.

Traders exchanged a total of 5,000 bales (155 kilograms each) at Rs6,675 to Rs7,100 per maund (37.324 kilograms), the KCA reported.

The decline in the number of orders for purchase of cotton yarn from abroad forced local manufacturers of cotton yarn to stay on the sidelines of the market.

Related Keywords: cotton grading fee, cotton trade, Karachi Cotton Association

The Karachi Cotton Association (KCA) has opposed government’s proposal to impose grading fee on cotton trade, saying the trade is already paying various duties and taxes including cotton cess.

Though the KCA appreciated government’s move to strengthen cotton grading and standardisation system in the country which would help fetch higher price for the commodity and its made-ups in the international market, it expressed reservation over government’s proposal to impose grading fee at Rs5 per bale on cotton trade.

Related Keywords: Cotton market, India, Karachi Cotton Association, New York, trading, world cotton market

Trading activity continued to remain slow on the cotton market on Saturday with both buyers and sellers making every efforts to turn the prices in their favour. Most buying deals offered by spinners were not obliged by ginners who are holding back their stocks in the hope of a price rise.

Brokers said that the rapidly rising prices of phutti (seed cotton) are instrumental in pushing cotton prices higher which forced ginners to ask for higher price for cotton.

Related Keywords: Cotton market, India, Karachi Cotton Association, New York, trading, world cotton market

With buyers and sellers reluctant to agree on a common price, trading activity botched to pick up on the cotton market on Friday.

Floor brokers said that it seemed that buyers and sellers were marking time before drawing future strategy to get maximum benefit out of duty-free market access given by the European Union (EU) to Pakistani products.