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Last update: Mon, 23 Jan 2017 09pm

Cotton and Textiles: Pakistan

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The volume of business could not pick up as both buyers and sellers failed to come on meeting ground, dealers said. The official spot rate was unchanged at Rs 6450, dealers said. In Sindh, seed cotton prices were higher at Rs 3100-3350, they said. In Punjab, phutti rates were at Rs 3100 and Rs 3575, as per 40 kgs, they added.
The Punjab Agriculture Department has asked the ginning factories across the province to eradicate larva of different pests in ginning waste by March 31, 2017. According the departmental sources, larva and other cotton pests were found in the ginning waste of some factories and owner of those factories have been warned to immediately destroy this waste or get ready for an action.
The Federal Minister for Commerce Engineer Khurram Dastgir Khan will arrive in Brussels today on a 4 day official visit. He will hold meetings with senior officials of European Commission and members of European Parliament and will chair conference of trade officers based in Pakistan missions in Europe, besides meeting with Pakistani community in Belgium.
Prices maintained firm posture on the cotton market on Friday in the process of slow business activity, dealers said. The official spot rate was unchanged at Rs 6450, dealers said. In Sindh, seed cotton prices were higher at Rs 3100-3350, they said. In Punjab, phutti rates were at Rs 3100 and Rs 3575, as per 40 kg, they added.
Textile exports declined by 1.65 percent to $6.156 billion during the first six months of the current fiscal year as compared to $6.2589 billion for the same period a year ago, according to Pakistan Bureau of Statistics (PBS). Provisional exports data of select commodities updated by the PBS on its website noted a 49.87 percent decrease in export of raw cotton during July-December 2016 when compared to the same period of last fiscal year.
On Thursday, cotton values on the ready market remained tight with price maintaining a firm posture. Traders said tightness of supply due to diminishing stocks and higher prices in both futures and ready markets in the U.S.A., China and India kept cotton values firm globally.
Prices touched season's high on the cotton market on Thursday amid persistent demand for quality lint, dealers said. The official spot rate was unchanged at Rs 6450, dealers said. In Sindh, seed cotton prices were higher at Rs 3100-3350, they said. In Punjab, phutti rates were at Rs 3100 and Rs 3575, as per 40 kg, they added.