All
 

 

Just in:  

You are here: Home»Cotton & Textiles»Pakistan

Cotton and Textiles: Pakistan

Archive: 

Selective buying was seen on the cotton market on Wednesday in the process of trading, dealers said. The official spot rate was unchanged at Rs 4650, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 1800-2300, they said. In the ready business, over, 4000 bales of cotton changed hands between Rs 4700 and Rs 4900, they said.

Due to lack of quality-based pricing system and non-practising of the cotton standardisation system, Pakistani raw cotton is currently being traded at an average discount of 13 cents per pound in the international market, official sources revealed to Business Recorder. Analysis of the current price differential vis-à-vis international market (Cotlook index A) and Karachi Cotton Association (KCA) shows it is over 16 cents per pound for 13 million bales - total $780 million, hence this price loss would be manifold in value added textile goods, the officials maintained.
Short supply of seed cotton after monsoon rains pushed rates higher on the cotton market on Tuesday in the process of thin business, dealers said. The official spot rate gained Rs 50 to Rs 4650, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 1800-2300, they said. In the ready business, over, 3000 bales of cotton changed hands between Rs 4700 and Rs 5000, they said.
An All Pakistan Textile Mills Association spokesman has said that an emergent meeting has been called for July 29 to evolve an appropriate strategy to restore viability of the textile industry. He said 100 Punjab-based textile millers had made a requisition to the association to convene the meeting which might also consider the option of closing down mills.
Fresh monsoon rains in the country curtailed supply of seed cotton, which helped the rates to sustain present levels, dealers said on the cotton market on Monday. The official spot rate was unchanged at Rs 4600, dealers said. Seed cotton prices in Sindh and Punjab were at Rs 2000-2300, they said. In the ready business, over, 1800 bales of cotton changed hands between Rs 4700 and Rs 4725, they said.
All Pakistan Textile Mills Association Chairman SM Tanveer has feared over the continuing decline in the textile exports this June. He said the textile sector exports had registered a significant decline in quantity terms during June against the corresponding period. "The exports of cloth have declined by 27.5 percent, followed by 12 percent in ready-made garments, 65 percent in art, silk and synthetic, 4.2 percent in towel and 32 percent yarn other than cotton yarn. The textile sector exports have registered downward growth by 2.65 percent in value terms this June."
Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain has demanded of the government to review exchange and monetary policies. He also highlighted the problems being faced textile sector, saying around 30 per cent textile mills have been closed and if the situation remained unchanged more bad news will follow.

 



 
Index Closing Chg%
Arrow DJIA 17,751.39 0.69
Arrow Nasdaq 5,111.73 0.44
Arrow S&P 2,108.57 0.73
Arrow FTSE 6,631.00 1.16
Arrow DAX 11,211.85 0.34
Arrow CAC-40 5,017.44 0.81
Arrow Nikkei 20,302.91 0.13
Arrow H.Seng 24,619.45 0.47
Arrow Sensex 27,563.43 0.38





New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk



Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln