Trading activity failed to pick up even after the government’s move to withdraw five percent duty exemption on import of cotton yarn. Cotton trade remained low at the local markets which were against the trader’s expectation as they hoped to see to boost after imposition duty on import of cotton yarn.
The Karachi Cotton Association (KCA) reported few deals exchanging hands, 500 bales of cotton from Akri (Khairpur) at Rs 5300, 300 bales from Korandi (Khairpur) at Rs 5500 and 708 bales from Lodhran at Rs 6350. In the session, around 1500 bales of cotton changed hands between Rs 5300-6350 per maund as compared to 2,300 bales traded at Rs5,200 to Rs6,400 per maund on Saturday
Meanwhile, the KCA continued to keep its cotton spot (benchmark) rate unchanged for the fifth working day at Rs6,400 per maund.
There were several expectations that business will improve after the Economic Co-ordination Committee (ECC) decision, but it failed to improve business sentiment as was expected.
Marks & Spencer and Pilio have launched the Affordable Clean Environment (ACE) cotton programme to support cotton farmers in India.
Circulose has joined the ecosystem of Spinnova to support the commercial scale-up of Spinnova’s fibre technology by supplying recycled raw…
AGY, JPS Composite Materials to manufacture low coefficient of thermal expansion (CTE) glass fibre fabric developed for advanced integrated circuit…
Ocean Recherche is promoting marine biomass as its main raw material for textile applications, supplying a range of materials developed…
Asahi Kasei has resumed production of Bemberg at its Nobeoka facility in Japan, almost four years after a partial shutdown.
Nikwax has partnered with technical marine clothing brand Gill Marine to introduce PFAS-free durable water-repellent technology to ocean performance gear.