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Cotton price increases on Karachi Exchange
04 Apr '17
1 min read
Increase in cotton price at the Karachi Cotton Exchange led to a decrease in trading activities on Monday. The spot price for cotton increased by Rs 50 per maund to Rs 6,750 per maund (approx. 37 kg). The demand for cotton yarn was strong in the domestic market, but exports of textile items reduced resulting in spinners staying away from the trading ring.
Spot rate of cotton increased to Rs 7,234 per 40 kg, along with Ex-Karachi rates that went up by Rs 135 and Rs 145 to Rs 6,885 per maund and Rs 7,379 per 40 kg, respectively, as upcountry expenses.
The next cotton crop size is uncertain as of now, owing to shortage of irrigation water in lower Sindh. Sowing of cotton has begun in Sindh and is expected to start in Punjab from April 15 for avoiding possible pest attacks. Punjab government is carrying out training sessions for cotton farmers in the area to improve sowing and picking practices. (KD)
Fibre2Fashion News Desk – India
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