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Cotton prices steady amid low trade on holiday schedule
July 25, 2021
KARACHI: Cotton market trade was low with stable prices during the three-day week, with Friday remaining a partial holiday, traders said.
Some ginning factories started their operations, while a majority of the mills were either closed or partially open, expecting trade to resume from Monday, they said.
Textile and spinning mills need cotton, increasing chances of higher trading activity in the coming days.
Activity is likely to increase in Punjab, while Sindh would face a normal situation, amid expected rains. “If rain is normal, it will benefit the crop, otherwise it can be harmful,” traders said.
Import contracts for 500,000 cotton bales finalised
July 11, 2021
KARACHI: Pakistan has finalised import contracts of 500,000 cotton bales to reduce gap in demand and supply with prices in the domestic market seen increasing, traders said on Saturday.
During the outgoing week, Pakistan remained the top importer with 24,000 bales, according to the United States Department of Agriculture. Cotton prices increased in Brazil, Central Asia and India, it said in a weekly report.
During the outgoing week, prices of cotton remained at Rs13,250 to Rs13,350 per maund in Sindh. Seed-cotton was available at Rs5,800 to Rs6,000 per 40-kg in the province. Cotton fetched Rs13,500 to Rs13,800 per maund in the Punjab where seed-cotton was available at Rs6,000 to Rs6,700 per 40-kg, which is a record price during these days. Cotton price in Balochistan remained at Rs13,350 to Rs13,400 per maund.
KARACHI: Despite ongoing stockpiling of the new cotton crop, Pakistani mills have entered into import orders of around 300,000 bales, raising questions regarding the crop in the country.So far,.
Growers await support price amid new cotton arrivals
Business
May 23, 2021
KARACHI: Partial trading started at the local market with the arrival of new cottonseed after long Eid holidays; however growers are still waiting for the support price, traders said.
Ginners were seen purchasing cottonseed at the rate of Rs5,000 to Rs5,500 per 40-kg, marking the beginning of new cotton season. Usually, cotton season starts in July in Pakistan and ends in June.
Besides, some deals of new cotton were also witnessed. One such deal of Sindh cotton was recorded in Burewala at Rs12,500 per maund, whose delivery would be given between June 10 to 20. Similarly, a deal of 600 bales of Tando Adam and a deal of 200 bales of Sanghar were finanlised at Rs12,200 per maund with delivery from June 10 to 20.