+917718880355

news

Slow trading activity continued on cotton market

YarnsandFibers News Bureau 2017-03-22 13:00:00 – Karachi

Slow trading activity continued on the cotton market on Tuesday amid dwindling stocks and lower exports of cotton yarn. The Karachi Cotton Association kept its spot rates unchanged at Rs6,800/maund (37.324kg) and Rs7,288/40kg.

Ex-Karachi rates also stood firm at Rs6,935/maund and Rs7,433/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

According to an analyst, cotton stocks were almost over in the country, while there were preparations of the new crop. Sowing has started in parts of lower Sindh in Badin and some areas of Thatta, while it will begin on April 15 in Punjab.

Late sowing in Punjab is being started on the instructions of the government, as it will save the crop from pest attack.

Major deals that changed hands on the ready counter were: 1,000 bales from Rahimyar Khan at Rs6,800 per maund (around 37 kilgrams) and 1,000 bales also from the same city at Rs7,000.

On global front, China continues to export cotton and may open the new season with zero holdings. Moreover, it was difficult for the analysts to comment on the Indian cotton situation as the country is importing cotton on the one hand and exporting it on the other.

Please Login to comment

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!