Home / Knowledge / News / Textiles / Cotton prices at KCA consolidate
Cotton prices at KCA consolidate
24
Nov '08
Cotton market remained active as the demand for fine lint moved on the higher side. The producers were quite positive as prices at the Karachi Cotton Market (KCA) stood firm for last few days of the past week and acquired a bullish trend.

During the week starting from November 17 to 22, the market remained in the tight grip of traders.

Mr Ghulam Rabbani, one of the Directors of Karachi Cotton Association, (KCA), while talking to Fibre2fashion said that, on Monday, the spot rate inched up and the settlement was declared at Rs3,000 per maund, reflecting a rise of Rs50 per maund.

On this day, 1000 bales of Shangar were sold at Rs2850 and Rs2890 per maund; 800 bales of Upper Sindh at Rs3100; 2000 bales exchanged hands with in the range of Rs3050 and Rs3100; 400 bales of Hasilpur at Rs3075 per maunds.

On Tuesday, spot prices at KCA remained firm and strong and the settlement was declared at Rs3,000 per maund as on previous day. Buying activity remained thin with the news of Pakistan Cotton Ginners Association's (PCGA) fortnightly cotton arrival.

According to the recent report of PCGA, the data of Pakistani cotton as on November 15, stood at 71,71,640, out of which 1,83,354 bales purchased by the exporters and 49,63,392 bales were bought by the textiles sector. As the difference from last year is coming up to 12,76,720 bales higher, total unsold stock is 20,24,894 bales. This is expected to create some impact on local market prices.

Around 200 bales of upper Sindh were traded at Rs3,030 per maund; 400 bales of Southern Punjab at Rs3,000 and Rs3,020 per maund; some 200 bales of Mirpurkhas at Rs3,030 per maund.

The spot rate at KCA took a step down and the settlement declared at Rs2950 per maund, depicting a decrease of Rs50 on Wednesday.

Limited volume of cotton was released on this day. Every one was expecting some change to come in effect; while buyers were waiting for some good decline, sellers planned to hold, hoping the prices may rise.

Near about 200 bales of Southern Punjab were sold at Rs2,975 per maund; 200 bales of upper Sindh at Rs3,000 per maund and 200 bales of Mirpurkhas were traded at Rs2,990 per maund.

Anticipating Trading Corporation of Pakistan's (TCP) intervention in the Karachi cotton market as a second player, spinners and ginners kept a low profile and thus trading activity remained bearish on Thursday.

The spot rate at KCA continued to be stable and was quoted again at Rs2950 per maund. Now the rate is being settled according to the quality. Fine lint seekers tried their best to cover for rainy days while producers, to get most of their produce. Conclusively the market is moving in a range of Rs2700 till Rs3000.

Around 200 bales of Upper Sindh changed hands at Rs2,985 per maund; 200 bales of southern Punjab at Rs2,900 per maund and 200 bales of Yazman at Rs2,995 per maund. Some cotton sold in Mirpurkhas at Rs2700, while a few deals were inked at few stations of Punjab at Rs3000 as well.


Must ReadView All

Textiles | On 26th Jun 2017

US initiates probe into PSF imported from 5 nations

The department of commerce of the US has initiated investigations for ...

Textiles | On 26th Jun 2017

USTR announces AGOA review for Rwanda, Tanzania & Uganda

The office of the US trade representative (USTR) has announced the...

Textiles | On 26th Jun 2017

Braskem invests in polypropylene production facility in US

The Board of Directors of Braskem, one of the largest producer of...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Kevin Nelson
TissueGen

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search