Home / Knowledge / News / Textiles / Cotton trading remains range-bound amid firm spot rate
Cotton trading remains range-bound amid firm spot rate
02
Dec '10
According to the traders, cotton trading continued to remain range-bound in the midst of firm spot rate and strong physical prices at the Karachi cotton market.

The physical prices of cotton continued to remain strong, in spite of the rising demand for cotton lint of all grades, as majority of the trading took place at Rs 9,150 per maund. The brokers revealed that the Karachi Cotton Association (KCA) spot rate continued to remain the same at Rs 8,500 per maund.

The major buyers of cotton are keen on buying all grades of cotton lint though the dollar-rupee parity does not permit them to undertake huge import deals, currently. Reports of deficit in local production and higher global price of cotton are issues of immense concern for the export-driven downstream textile industry in addition to the spinning sector. The correction phase, which is still continuing in the New York futures market, has induced the prices to remain firm in the local market.

Ginners in Punjab have substantial stocks of cottonseed and the ginning activities are continuing at a moderate pace. To keep the market supply under control and to dictate the prices, majority of the ginners at Sindh stations have lowered the pace of ginning activities as the cottonseeds are less in supply.

Since over 14,000 bales of cotton were traded at Punjab station, it continued to remain the volume leader. Moreover, raw cotton was sold at the rate of Rs 8,500 per maund during the business.

Cotton trading continued to remain modest in majority of the Punjab stations whereas trading was
dry in Sindh. Most of the deals took place between Rs 9,000 per maund and Rs 9,200 per maund in Punjab whereas in Sindh, the deals were settled between Rs 8,700 per maund to Rs 8,800 per maund regardless of the cotton grade.

The New York March Futures remained at 115.76 cents per pound whereas the May Futures stood at 110.48 cents per pound. Cotlook A Index remained at 143.35 cents per pound.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 27th Apr 2017

UL joins ZDHC programme

UL Consumer & Retail Services (CRS), a global safety science company, ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

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

Steve Cole
Xerium Technologies

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

Robert Brunner
Devereux

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

Sanjukta Dutta
Sanjukta's Studio

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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:
April 2017

April 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



X