12052016Mon
Last update: Mon, 05 Dec 2016 01pm

Cotton and Textiles: Pakistan

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Fearing price crisis in the country, the Cotton Crop Assessment Committee (CCAC) may not further revise cotton production estimates downward and would maintain it at 11.039 million bales for the current season (2016-17), it is learnt.
Pakistan Cotton Ginners Association (PCGA) has issued the figures of cotton arrival up to December 1st, 2016. Seed cotton (Phutti) equivalent to over 9,778,451 bales of cotton have reached ginneries across Pakistan as of November 15, showing an increase of 13.28 per cent compared to corresponding period last year when ginneries received 8,631,933 bales.
Volume of business came down on the cotton market on Saturday following the better-than-expected Pakistan Cotton Ginners Association (PCGA) fortnightly report, dealers said. The official spot rate was unchanged at Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600 and Rs 3300, they said, in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.
Firmness persisted on the cotton market on Friday as buyers remained in the forefront of buying spree to replenish their stock, dealers said. The official spot rate was unchanged at Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600-3300, they said that in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.
COTTON USA is making plans to promote US cotton's quality, responsible production and innovation at the world's leading trade show for home textiles. While at Heimtextil in Frankfurt, Germany, on January 10-13, 2017, COTTON USA will seize the opportunity to offer sourcing support to the global home textile industry. As an added incentive to the hospitality industry, COTTON USA will also introduce its new hotel and travel initiative that connects COTTON USA licensed manufacturers with the hotel sector to provide US cotton-rich bedding and towels.
Federal Minister for Commerce Khurram Dastgir Khan Thursday said that despite diplomatic tension between Pakistan and India trade regime has not been changed. "The government is working to make every input items, including machinery import, zero rated for export sector from the next fiscal year while the proposed package for exports-oriented sector is still in field and may be announced anytime soon," the minister said while briefing the Senate Standing committee on Textile Industry which met with Mohsin Aziz in the chair.
Mills renewed buying helped rates to keep firmness on the cotton market on Thursday in the process of trading, dealers said. The official spot rate was higher by Rs 50 to Rs 6300, dealers said. In Sindh, seed cotton prices were at Rs 2600-3300, they said that in Punjab, phutti rates were at Rs 2800 and Rs 3550, as per 40 kg, they added.