Home / Knowledge / News / Textiles / Cotton prices mount on heavy purchasing
Cotton prices mount on heavy purchasing
26
Oct '10
The price of unginned cotton surged to a new record of Rs 8,000 per maund last week, due to heavy purchasing by spinners and exporters in anticipation of cotton shortage.

Cotton growers are, currently, holding back stocks of raw cotton to obtain greater prices amidst ambiguity regarding the crop size, which accelerated heavy cotton purchasing by spinners as well as exporters to secure their standing in the market.

The cotton growers of Pakistan had been so far having a sway over the market, with the expectation of acquiring a higher price which is equivalent to the price existing in the New York Cotton Exchange (NYCE).

Strong Chinese demand for cotton and yarn has been also forcing the global cotton prices to rise. Though India has excess cotton which can be exported but it has currently decided to hold back its stocks, which have led to heavy purchasing of cotton in the local as well as global market.

A number of small and medium-sized factories might succumb to the challenges and close down, as huge financial assistance is required for securing the raw material.

The spot rates have increased to Rs 8,318 per 40 kg of cotton at the Karachi Cotton Association. There has been an addition of Rs 107 to the earlier rates.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search