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Related Keywords: buyers and sellers remained to the sidelines, cotton bales, facing difficulty in exporting cotton yarn, Karachi Cotton Association, owing to short supply of quality lint, owing to uncompetitive prices, polyester cotton yarn, raised spot rates by Rs fifty, remained slow, rise in cotton prices, Spinners, Trading activity at cotton market

Trading activity at cotton market on Monday remained slow as buyers and sellers remained to the sidelines owing to short supply of quality lint and rise in cotton prices. The Karachi Cotton Association also raised its spot rates by Rs50, to Rs6,800 per maund (around 37kg).

According to market estimates, ginners currently hold 500,000 bales of cotton in order to get best prices are careful in disposing of these stocks.

Related Keywords: cotton trading, fall in supplies by China and India, Indian Shankar-6 variety of cotton, international market, lower production and increased consumption, new crops available in market, rise in cotton prices, short-term hike, start declining from November, top choice of Bangladeshi importers, two major cotton producers and consumers, USDA

In International market cotton was traded at 77 cents from 62 cents three months ago, a rise by 24.19 percent due to a fall in supplies by China and India, two major cotton producers and consumers. Six months ago the price was below 60 cents, according to industry insiders.

According to Hissam Khandker, director of Delcot Enterprise Ltd, a leading cotton importer of Bangladesh, it is a short-term hike. He hopes that the price will start declining from November when new crops will be available in markets.

Related Keywords: entire textile value chain. Textile Minister, ginning machinery, handy meters, impact on competitiveness, Indian cotton prices, introduce a system, ITF, par with international prices, rise in cotton prices, satellite data on cotton production, SIMA, Smriti Irani, stability to cotton prices, Textile industry of Southern India

The textile industry of Southern India in the last two months due to rise in cotton prices is having an impact on the competitiveness of the entire textile value chain. They have appealed to the Textile Minister Smriti Irani to introduce a system that will bring stability to cotton prices to which the Textile Minister has asked for a proposal, which the textile industry will send it shortly.