With dwindling stock of quality lint, ginners have raised asking price of quality lint due to which not a single deal was finalized on the cotton market on Monday. The official spot rate also remained unmoved at Rs 5,350 dealers said. In the Punjab prices were at Rs 2400 and Rs 3100.
According to market sources, some of the ginners who held back quality lint on hopes of better income in the coming days, raised asking prices, but the spinners showed no interest in fresh buying.
Cotton analyst, Naseem Usman said that late sowing in the Punjab and decline in Indian cotton production creating uncertainties among mills and spinners. In fact, a lackluster business atmosphere is created due to shortage of fine type and wait-and-see attitude by the ginners.
Cotton futures edged lower on MCX due to sluggish demand from traders and stockists at the domestic spot market. Though, some losses were capped on lower production from major producing belts of India and Pakistan
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide