KARACHI: Cotton arrivals hit a three-decade low level of 5.6 million bales due to farmers switching to other crops with the sliver fiber production sharply down 34 percent year-on-year till January.
Cotton prices continue to rise unabatedly
Business
January 17, 2021
KARACHI: Cotton prices found no respite from an unabated spike during the week with the industrial input traded at season’s high rates as its downbeat local production continues to widen demand and supply gap, traders said on Saturday.
Traders said cotton was traded at the highest prices of the season during the outgoing week while production is expected at around 6 million bales this year.
Price of cotton of Sindh were Rs10,000 to Rs10,700 per maund. Cotton of Punjab was sold at Rs10,200 to Rs11,000 per maund, while lint from Balochistan was sold at Rs10,500 per maund.
Business
January 3, 2021
KARACHI: Cotton spot rate has reached to this season’s high of Rs10,200 per maund, taking cue from uptick in international prices, while laggard production estimate kept panic buying up, industry people said on Saturday.
Karachi Cotton Association’s spot rate committee increased the spot rate by Rs250 per maund to the highest spot rate of Rs10,200 per maund.
Price hike was also recorded in the international market, said Naseem Usman, chairman of Karachi Cotton Brokers Association. New York Cotton Market’s futures increased to 78 cents per pound, which is highest rate of the season.
US exports remained lower by 30 percent during the week. Dollar rate also decreased during the week. Cotton rates, however, increased despite of 25 December holiday, bank closing and threats of Covid-19, said Usman.
Cotton lint prices reach Rs10,300 per maund amid shortage
Business
December 20, 2020
KARACHI: Cotton lint prices touched the Rs10,300 per maund level for the second time this season as almost V-shaped recovery in textile industry in Pakistan amid the global pandemic turbulence sharpened demand of the industrial input, it was learnt on Saturday.
Cotton lint prices in the local market increased around Rs500 to Rs700 per maund. It is second time in the season that lint price reached to Rs10,300 per maund level, according to traders.
Traders are expecting prices to reach at the highest level of the season at Rs10,500 per maund in the coming days due to shortage of lint in the market.