Concerns over supply cotton trading surged at six week high of 23,600 bales after rains in Punjab on Tuesday. If rain continues, the price of cotton likely to go further up.
The rains have slowed down picking of phutti (seed-cotton) in Punjab. It has also caused increase in price of cotton by Rs50 per maund (37.324 kilograms) to Rs5,450 per maund in the afternoon on Wednesday.
According to Taqi Abbas, a broker at the Karachi Cotton Exchange, uncertainty convinced textile mill-owners to buy big lots of the commodity.
Report from the Karachi Cotton Association (KCA) stated that traders bought a total of 23,600 bales at Rs4,800 to Rs5,400 per maund (37.324 kilograms) as compared to 15,600 bales bought at a similar price a day ago.
It is unlikely that the rain would continue. Accordingly, supply of phutti and cotton would restore to normal in a day or two.
Return to Vendor has announced a major breakthrough for the textile industry, a fully stretchable nylon that is 100 percent…
The EC is set to launch a consultation inviting industry stakeholders to share their views on the potential impact of…
Japan has announced a faster plan to reduce household clothing waste by 25% by fiscal year 2030, compared with levels…
SGS has announced a complimentary webinar titled “Building Trust Through PFAS Conformity in Softlines,” scheduled to take place on January…
France has officially brought into effect a nationwide ban on per- and polyfluoroalkyl substances (PFAS) in textiles and footwear.
Materials start-up Ecogenesis Biopolymers has introduced a new thermoplastic polyurethane (TPU) filament for 3D printing that is derived from plants.