Home / Knowledge / News / Textiles / TCP's re-entry raises hopes of cotton traders
TCP's re-entry raises hopes of cotton traders
Nov '08
Hopes of farmers are soaring high with the news of Trading Corporation of Pakistan (TCP) entering the market for procuring cotton.

Although demand for lint moved on the higher side, spot rates acquired a declining trend, during the week starting from November 10 to 15.

Spot rate at KCA, on Monday, slumped slightly by Rs25 per maund and the settlement was declared at Rs3,175 per maund. Business activities in the Sindh region were positive with higher trade volumes.

Mr Ghulam Rabbani, one of the Directors of Karachi Cotton Association (KCA), said that fine lint fetched Rs3,200 per maund, slightly higher prices due to growing demand from spinning sector.

Few future deals for all kinds of lint were inked at around Rs3,125 per maund to Rs3,150 per maund. Around 200 bales of southern Punjab were traded at Rs3,050 per maund and Rs3,120 per maund and another 200 bales of upper Sindh at Rs3,150 per maund.

On Tuesday, market slipped further by Rs25 per maund and cotton prices stood at Rs3,150 per maund.

Market analysts say that since August cotton prices in the domestic market dropped by 18 percent from its record level of Rs4,350 per maund and it can be attributed to arrival of new cotton crop in the market. However, current lint prices are quoted at around Rs3,200 per maund, which is nearly 22 percent high when compared to last year's level.

Nearly 200 bales of Mirpurkhas exchanged hands at Rs2,850 per maund to Rs2,900 per maund and 200 bales of upper Sindh exchanged hands at Rs3,150 per maund.

Another blow came when spot rates for cotton plunged further by Rs150 per maund on Wednesday and was declared at Rs3,000 per maund.

Currently, local cotton prices are hovering at around Rs3,000 per maund, but fine lint remained on the higher level on back of demand from the leading users. Around 200 bales of southern Punjab changed hands at Rs2,950 per maund to Rs2,960 per maund; some 200 bales of upper Sindh changed hands at Rs3,000 per maund and 200 bales of Mirpurkhas were traded at Rs3,025 per maund.

On Thursday, spot rates stood at Rs2950 per maund. Business in local market observed in small volume. 3000 bales traded in Rajanpur at Rs3000 per maund; 3000 bales of Chichawatni sold at Rs3000; another 1000 bales of Jalalpur changed hands at Rs3000; near about 2200 bales of Bahawalpur finalized at Rs3000; around 1500 bales of Sultanabad sold in Rs2700 and Rs2800; while in another contract 1600 bales of Shahdadpur sold at Rs2800 and Rs2900 per maund.

The spot rate at KCA on Friday remained firm and strong, with the settlement prices stood at Rs2950 per maund, as previous day. Very few trade deals were struck in local market. All whatever was sold or bought remained in a range of Rs3000 to Rs3100 per maund.

According to Mr Rabbani, majority of the sellers stopped offering their stocks on lower price, as reports of TCP joining the league is in the air to provide relief to the sector.

The spot rate at KCA on Saturday remained firm and strong. The settlement price was declared at Rs2950 per maund, similar to previous day. Whatever volumes were sold amid thin transactions, the price stood with in the range of Rs3000 to Rs3100 per maund.

For complete quotation of today's price click here

Fibre2fashion News Desk - India

Must ReadView All

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search