As major buyers were on the sidelines due to quality factor, trading activity remained moderate on the cotton market on Tuesday, dealers said.
Seed cotton prices in Sindh were at Rs 2300-2350 and in Punjab rates were at Rs 2350 and Rs 2450. In the ready business, around, 3000 bales of cotton changed hands between Rs 4700 and Rs 5000. However, the official spot rate remained unchanged at Rs 4700.
According to analysts, some needy mills and spinners took part in fresh buying of seed cotton while ginners preferred to sell to meet their financial problems.
Cotton analyst, Naseem Usman, said that prices may go up after Eid holiday. Despite this factor the ginners were selling to meet Eid related expenditures.
The following deals reported to have changed hands: 200 bales from Khipro at Rs 4700, 800 bales from Mirpurkhas at Rs 4700-4750, 1000 bales from Sanghar at the same rate, 400 bales from Shahdadpur at Rs 4800 and 200 bales from Burewala at Rs 5000.
On the global front, cotton news over the past week was a “mixed bag but mostly not good for prices,” Don Shurley, an agricultural economist at the University of Georgia, said.
Portal has launched the Biome Insulated Jacket, a performance-focused outerwear piece created with Italian insulation expert Thermore.
Trivantage, a well-known supplier of fabrics and hardware for the shade industry, has launched a new shade sail fabric from…
Navis TubeTex has announced a new partnership with Icomatex, a respected European company known for its high-quality stenters and textile…
Innovo Fiber has announced an exclusive global distribution partnership with Archroma to widen access to its Fibre52 low-temperature bleaching technology.
Water Technology AB (SWATAB) has integrated Cleanr’s new microplastic filtering technology into its patented chemical-free commercial laundry system.
The Organic Cotton Accelerator has released Türkiye’s first Organic Cotton Training Curriculum, giving farmers practical and locally relevant advice on…