On Tuesday, cotton prices in Pakistan slid amid lackluster trade due to lack of buying interest from spinners and higher imports of cotton, whereas, cotton prices in the world markets moved higher.
The spot rate settled at PakRs5,500/maund (37.324 kilogram each), down PakRs50/maund from the previous level. Around 1400 bales of cotton were changed hand in the ready markets of Sindh and Punjab.
Floor brokers stated that the market was expected to witness enthusiasm after a government’s decision to declare textile exports free from duty and taxes. However, there was hardly any change in the trading pattern.
The Trading Corporation of Pakistan also sold 2,000 bales to spinning mills as ginners continued to ask high prices for the premium quality fiber amid fast depleting lint stocks with them, said brokers.
A major factor for low buying interest was higher imports of cotton, but some brokers said that many spinners believed the arrival of new crop phutti (seed cotton) would be in time.
Ciele Athletics has expanded its Elite running collection with a new performance fabric developed to help regulate body temperature during…
Levi's has announced a new collaboration with The Football Association and the England National Football Team ahead of this summer’s…
Arvind Advanced Materials Limited has acquired nearly 61% stake in Dalco-GFT, a US-based manufacturer of needle-punched non-woven specialty fabrics.
Global Fashion Agenda and ReHubs have launched the 2030 Circularity Blueprint to strengthen T2T recycling and support the transition toward…
Accelerating Circularity has introduced Textile-to-Textile Circularity Foundations to improve coordination and implementation in T2T recycling systems.
Claras Materials LLC has announced its launch as a specialised supply chain company focused on post-consumer textile raw materials.