Cotton prices fall Rs400 per maund to Rs10,800 per maund
Business
April 11, 2021
KARACHI: Cotton prices fell Rs400 to Rs10,800 per maund as spinners showed reluctance to make purchases, traders said on Saturday.
They said interest of spinners further declined in purchase of cotton that resulted in a drop of the official spot rate fixed by the Karachi Cotton Association.
Chairman Karachi Cotton Brokers Association, Naseem Usman, told The News that international markets witnessed fluctuation during the outgoing week. In the New York Cotton Market, rates had gone down to 77 cents per pound, which again increased to 82 cents per pound.
Cotton rates in the international market fluctuated during this period while local stocks are left below than 85,000 bales only.
Cotton arrivals hit three-decade low of 5 6 million bales
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Cotton arrivals hit three-decade low of 5 6 million bales
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Cotton arrivals hit three-decade low of 5 6 million bales
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Industry divided over cabinet’s decision to continue ban on Indian imports
Business
April 2, 2021
KARACHI: Businessmen and traders have shown mixed response to the cabinet’s rejection to the government proposal of cotton and sugar imports from India.
Pakistan Yarn Merchants Association rejected the cabinet decision for not importing cotton from India.
The association representatives Hanif Lakhany and Farhan Ashrafi said the Economic Coordination Committee (ECC) of the cabinet allowed the import while the cabinet rejected it, which is not understandable.
The government should play serious role in economic issues, they said. The government should take efforts to provide raw material to the industry. If raw material is not available to the industry on economical rates, meeting the export orders would become difficult, they added.