Slow trading seen at the Karachi Cotton Exchange on Tuesday, while spot rates decreased Rs50/maund to Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also decreased to Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
The cotton market recorded only two transactions of around 1,400 bales at the price in between Rs6,900 and Rs6,925/maund. Rahimyar Khan’s 1,000 bales were traded at Rs6,900 to Rs6,925/maund and 400 bales of Sadiqabad exchanged hands at Rs6,925/maund.
According to Naseem Usman, chairman of the Karachi Cotton Brokers Association, slow trading was witnessed as the season is nearing end and spot rates decreased because of season end trading at low prices.
While at the Karachi Cotton Association on Tuesday fixed the official spot rate, or base price, for Grade 3 cotton at 7,234 rupees per maund (40 kg). Grade 3 cotton has a staple length of 1-1/16″ and micronaire value between 3.8 and 4.9 NCL (no control limits), which represents fine to coarse classes of cotton varieties.
In the kerb market, the key crop varieties traded in the range of 6,900 to 6,925 rupees per maund.
The Council of Fashion Designers of America (CFDA) has announced two new initiatives aimed at strengthening fashion manufacturing in the…
The U.S. Cotton Trust Protocol has announced that Next Level Apparel, a supplier of blank apparel, has joined the program…
Harper Hygienics has launched Kindii Water Care, a new range of baby wipes developed to suit the needs of very…
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…