With majority of big textile mill-owners quitting the local markets after building stocks for long-term use, the trade turnover of cotton witnessed decline by over 40 percent to 5,900 bales (155 kilograms each, according to dealers on Thursday.
Most of the big textile mills are covered till next September. Although the new crop will start arriving in the markets in June, but matured cotton would come later, said Taqi Abbas, a broker at the Karachi Cotton Exchange.
The KCA maintained its official spot rate for the fourth working day at Rs5,000 per maund.
According to the Karachi Cotton Association (KCA) report, traders bought 5,900 bales at Rs4,800 to Rs5,200 per maund (37.324 kilograms) as compared to 10,100 bales bought at Rs4,200 to Rs5,250 per maund a day ago.
On global front, the world benchmark cotton market, New York, price of March futures contract declined by 0.12 cents per pound to 63.61 cents per pound.
Thermore, a company in thermal insulation, has introduced Ecodown Fibers T2T. The new free-fibre insulation is produced entirely from recycled…
Eurojersey, Lycra have collaborated to launch Empowered Play, a new approach to functional apparel where technical performance and comfort come…
Graphene-X has introduced its first women’s clothing collection, expanding its use of graphene-integrated fabrics beyond the men’s and unisex products.
In the German research project bioPEtex, BB Engineering is collaborating with several partners to develop textiles made entirely from bio-based…
Chapoget has partnered with Bcomp for advanced ampliTex flax fibre composites to develop the Cabin Trunk, a modern reinterpretation of…
Epoch Biodesign has joined the T2T Alliance to support the development of regulatory systems that can help expand textile-to-textile recycling…