Shortage of quality cotton coupled with depleting cotton stocks have started to affect on trade volume, keeping trading activity dawdling at cotton market on Thursday. Both buyers and sellers took to the sidelines amid rising prices. Barring a couple of deals, the market conditions remained dull.
Big spinners have also reportedly slowed down their imports. On the domestic front, the trading ring gave a deserted look.
Ginners on their part are also holding back their limited stocks in order to get higher rates in the coming days, brokers said. High cotton prices the world over have put the textile industry in dismay, brokers added.
Buyers fear that if they pick cotton at current high rates and later prices come down, this would disturb their viability in the world market.
Major deals that changed hands as per dealers on the ready counter were: 3,000 bales from Rahimyar Khan at Rs7,000 and 2,400 bales from Harooabad at Rs6,800.
However, the Karachi Cotton Association kept its spot rates unchanged.
Among world cotton markets, the New York market remained under profit-selling, while China and India were steady.
Tokyo-based Teijin Frontier has developed a new multi-functional textile for sports and outdoor clothing that offers improved comfort and cooling…
In a major step towards reviving Telangana’s handloom traditions and environmentally responsible fashion, BRS Working President launched Singidi Collective.
The latest Mini models make wide use of recycled knitted fabrics in their interiors, combining simplicity, sustainability, and modern aesthetics.
BRM, a leader in the design and manufacturing of engineered woven fabrics, has highlighted its advanced webbing solutions developed for…
Himachal Pradesh has announced a new policy to encourage regulated cultivation of industrial hemp, promoting plans for sustainable textiles products.
Zhejiang Yanpai Filter Technology has placed a new order with Andritz for two additional high-performance needlepunch production lines.