Rise in cotton price resulted in a decline in its trading activities at cotton markets in Pakistan. The trade turnover of cotton fell to 2,500 bales (155 kilograms) after the price of the commodity surged above Rs7,300 per maund (37.324 kilograms) at the local markets, a dealer said on Thursday.
The spinning mill-owners opted to wait for a decline in the commodity price to make considerable buying. The situation resulted in low trade.
Traders exchanged 2,500 bales at Rs6,900 to Rs7,300 per maund as compared to 6,400 bales traded at Rs7,000 to Rs7,350 per maund a day ago, the KCA reported.
KCA tried to keep its cotton spot rate unchanged for the second working day at Rs Rs7,000 per maund.
At New York cotton market, March futures contract declined by 1.53 cents per pound to 83.14 cents, while May futures contract fell by 1.41 cents per pound to 83.22 cents.
Tendam, in partnership with the University of Design, Innovation and Technology, has released a new study examining the carbon footprint…
Researchers from Latvia have identified mycelium-based insulation as the most promising reuse option for fast-fashion textile waste.
A breakthrough has revealed a new way to convert PET from plastic bottles and synthetic textiles into key components used…
The proposed India–New Zealand Free Trade Agreement (FTA) is expected to significantly strengthen Indian exports.
Artificial intelligence company Gensmo has announced a strategic partnership with Fabrique, a global collective that works with more than 350…
Claros Technologies has announced the completion of a large-scale commercial optimization run of its proprietary UV-photochemical PFAS destruction platform.