Home / Knowledge / News / Textiles / Cotton prices rise due to active buying from mills

Cotton prices rise due to active buying from mills

21
Jan '11
Prices increased in the cotton market yesterday as the textile mills continued to buy on the basis of their anticipation that cotton prices might continue to rise due to the shortage in their supply. The Karachi Cotton Association (KCA) spot rate touched the record high level of Rs 10,000 following a gain of Rs 100.

As ginners are no longer buying phutti from the cotton growers therefore, the price of this commodity is not available. In ready business, prices are maintaining an upward march to surpass the record high level at Rs 11,000. Business activity has been reasonably good owing to the high demand from the side of the mills. Around 13,000 cotton bales were traded between Rs 9,650-10,600.

Cotton traders, for the first time in the history of Pakistan, had ceased the business activity to protest the imposition of 3.5 percent withholding tax on agricultural items, as the traders are not ready to accept this levy.

Previously, it was anticipated that the country would achieve the target of 11.7 million cotton bales for 2010-11 season but now it is estimated that about 11.5 million cotton bales will be produced because of the damage caused by the floods, last year.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Myanmar's garment units risk closure due to virus impact

Myanmar's garment factories are facing the risk of shutdown as the...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

GMAC urges EU to restore full EBA rights for Cambodia

Expressing disappointment over the recent European Union (EU)...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Uzbekistan 3rd biggest garment exporter to Kazakhstan

Uzbekistan exported 10,000 tonnes of apparel to Kazakhstan in 2019,...

Interviews View All

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

Leave your Comments


February 2020

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


Advanced Search