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Ginning factories closed amid low cotton stocks

Ginning factories closed amid low cotton stocks Business KARACHI: Local cotton market remained sluggish in the week, largely owing to dollar depreciation, dwindling yarn demand, erratic global trends, and Ramzan timings, with ginners mostly opting to suspend their operations, traders said. Traders were mostly expecting the slowdown to continue in the coming days, saying Covid-19 had affected the trade globally, which had also resulted in the less demand in the local market, which also came under the influence of the international markets. The cotton season has almost ended and ginners are left with less than 60,000 bales that are also being sold gradually, as the lint was being purchased by some mills. However, trade volume is very low and almost all ginning factories have closed their operations.

Textile mills less interested in cotton buying amid lockdown fear

Textile mills less interested in cotton buying amid lockdown fear Business April 25, 2021 KARACHI: Lack of interest among buyers remained persistent in the local cotton market during the outgoing week, but some lots of quality lint were sold, which caused the spot rate to rise by Rs500 per maund. Traders said ginners were left with hardly 65,000 bales, which they were selling slowly and gradually in the market, as textile mills were less interested in buying due to cotton yarn prices. Cotton prices in Sindh remained at Rs10,200 per maund to Rs10,600 per maund. Rates in Punjab varied between Rs10,800 per maund to Rs11,500 per maund.

Cotton trade drops amid higher price demand by ginners

Cotton trade drops amid higher price demand by ginners Business April 18, 2021 KARACHI: As expected, ginners are demanding higher prices from buyers due to shortage cotton bales in the market with their stocks down to 70,000 bales, traders said on Saturday. With cotton production having declined around 40 percent, ginners are demanding higher prices, as very little stock of around 70,000 bales is left with them, traders said. Spinners were less interested in the purchase of lint from the local market during the outgoing week. They are not ready to purchase lint at higher rates, although prices remained stable in the local market amid low volumes.

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