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 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Textiles | On 8th Dec 2016

Taiwan’s Everest Textile to invest $18.5 mn in US

Everest Textiles USA, a unit of Taiwan based Everest Textile Company, ...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Milind Khandwe
Hindoostan Innovation Centre

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

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search