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Cotton and Textiles: Pakistan

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Panic selling of seed cotton seen on the cotton market on Monday in the process of trading, dealers said. The official spot rate was unchanged at Rs 5,650, they added. In the session, nearly 12,000 bales of cotton changed hands between Rs 5700 and Rs 5850, they said. In Sindh, in the late evening rates of seed cotton fell sharply by Rs 300 to Rs 2500 and Rs 2650, in Punjab prices followed same trend, dropping Rs 200 to Rs 2200 and Rs 2550, they said.

Mehmood Group of Industries's Khawaja Jalaluddin Roomi, Imran Mehmood and Muhammad Iqbal Khan have been elected unopposed as Chairman, Senior Vice-Chairman and Vice-Chairman respectively of All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA) for 2014-15.
Yarn dealers and stockiest have staged a protest against the defaulters of the Faisalabad Yarn Market in front of the defaulter house and demanded to government speculators and defaulters should be apprehended immediately.
Prices of seed cotton maintained upward trend on the cotton market on Saturday in the process of persisting demand by mills and some exporters, dealers said. The official spot rate was unchanged at Rs 5,650, they added. In the session, nearly 9,000 bales of cotton changed hands between Rs 5725 and Rs 5800, they said. In Sindh, rates of seed cotton improved by Rs 150 to Rs 2800 and Rs 2900, in Punjab prices were at Rs 2400 and Rs 2800, they said.
Growing fears of pest attack pushed rates higher on the cotton market on Friday in the process of trading, dealers said. The official spot rate rose by Rs 50 to Rs 5,650, they added. In the session, nearly 10,000 bales of cotton changed hands between Rs 5700 and Rs 5800, they said. In Sindh, rates of seed cotton improved at Rs 2650 and Rs 2750, in Punjab prices were at Rs 2400 and Rs 2750, they said.
The Met office in its 10-day farmers advisory asked the growers of cotton crop to take necessary steps to safeguard their standing crop against the stagnant rainwater. Cotton growers have been advised to set up a mechanism to drain out stagnant rainwater from their fields to protect the standing crop following the monsoon rainy spell. "Mechanism for drainage of stagnant water from fields should be evolved on priority basis and necessary requirements in this regard should be taken," it said.
Volume of business came down on the cotton market on Thursday as the growers showed no interest in selling on expectations of increase in rates, dealers said. The official spot rate was unchanged at Rs 5,600, they added. In the session, nearly 10,000 bales of cotton changed hands between Rs 5600 and Rs 5775, they said. In Sindh, rates of seed cotton improved at Rs 2600 and Rs 2750, in Punjab prices were higher by Rs 50 to Rs 2400 and Rs 2700, they said.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln