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.
DKNY and Dubit have introduced a virtual collection of handbags, hats, and jackets from its new 'Heart of New York'…
Archroma, a leading provider of sustainable specialty chemicals, is set to unveil a comprehensive array of denim solutions at the…
Xefco has successfully secured US$6.9m in funding to advance the commercialization of its groundbreaking water-free textile dyeing and finishing solution.
Researchers are exploring mushroom roots, mycelium, as a sustainable alternative to synthetic fibers in various products, including clothing and car…
Coachtopia has partnered with upcycle designers worldwide to give a fresh look to its popular Ergo bag, highlighting sustainability through…
France announced that the G7 will focus on tackling the environmental and climate effects of the fashion and textiles sector…