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Cotton and Textiles: Pakistan

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Textile exports from the country surged by 13.02 percent in November 2014 as compared to the corresponding period of last year, according to the data released by Pakistan Bureau of Statistics.

The state-run grain trader completed the procurement of some 72,300 cotton bales to stabilise the price in the domestic market. Sources told Business Recorder on Saturday that arrival of cotton bales in the Trading Corporation of Pakistan godowns is gradually increasing at 10 centers and the quantity is likely to reach Karachi next week.
General trend in the cotton market was firm, following the rising demand by mills and spinners, dealers said on Saturday. The official spot rate was unchanged at Rs 4,750, they added. In the ready session, around 20,000 bales of cotton changed hands between Rs 3500-5000, they said. In Sindh, prices were unchanged at Rs 1600 and Rs 2300, in Punjab prices were inert at Rs 2100 and Rs 2600, they said.
Official spot rates recovered more due to rising demand for best quality of cotton by the spinners and mills, dealers said on Friday on the local market. The official spot rate picked up further Rs 50 to Rs 4,750, they added. In the ready session, around 10,000 bales of cotton changed hands between Rs 4600-5000, they said. In Sindh, prices recovered overnight, gaining Rs 100 to Rs 1600 and Rs 2300, in Punjab price of low type also rose by Rs 100 to Rs 2100, however, the good type shed Rs 50 to Rs 2600, they said.
Quality factor caused slight firmness in rates on the cotton market on Thursday amid slow trading, dealers said. The official spot rate did not budge any side, maintaining overnight level at Rs 4,700, they added. In the ready session, around 4,000 bales of cotton changed hands between Rs 3500-5000, they said. In Sindh, prices were down by Rs 100 to Rs 1500 and Rs 2300, in Punjab price of low type was unchanged at Rs 2000 while best type was lower by Rs 50 to Rs 2600, they said.
The Pakistan Cotton Ginners Association (PCGA) fortnightly report showed that Trading Corporation of Pakistan has purchased only 61,600 bales of cotton while 1,32,33,986 cotton bales were sourced to the country's ginners by December 16,2014, which showed an increase of 8.03 percent than last year when ginneries received 1,22,49,949 bales.
Cotton prices were well held on Thursday for the better quality lint as mills increased their buying. The negotiations between Prime Minister Nawaz Sharif's Muslim League (N) and Imran Khan's Tehreek-e-Insaf parties which are reported to have begun have imparted a positive signal to the business community in Pakistan and which should signal improved business condition.

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln