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Cotton and Textiles


Prices declined on the cotton market on Wednesday owing to the slow demand from mills and exporters, dealers said. The official spot rate was down by Rs 100 to Rs 6,400, they added. Prices of seed cotton in Sindh and Punjab per 40 kg were unchanged at Rs 2800 and Rs 3100, dealers said. In the ready session, over 3000 bales of cotton changed hands between Rs 5900-6400, dealers said.

Cotton futures dropped on Tuesday as traders liquidated long positions because of concerns that high prices will continue to hurt demand. The most-active July cotton contract on ICE Futures US closed down 0.99 cent, or 1.1 percent, at 91.29 cents a lb. The front-month May contract fell in stride, finishing the day down 0.99 cent, or 1.1 percent, a 89.92 cents a lb.
The fluctuations observed during the day:

Director General Trade Development Authority of Pakistan (TDAP) Lahore Sher Afgan Khan said Pakistan is exporting about $90 million worth of textile products to Japan but mostly raw material such as cotton yarn. He was addressing the workshop on 'how to access Japanese market' organised by TDAP in collaboration with Jica here on Wednesday.
Exports of cotton yarn declined by over five percent to $1.376 billion during July-February 2013-14, official figures show. Exports of cotton yarn posted a fall of $79.405 million during July-February 2013-14 as compared to $1.456 billion exports in the same period of last fiscal year, Pakistan Bureau of Statistics (PBS) say.
Exports of leather garments posted an increase of 15 percent to $287.738 million during July-February 2013-14, according to Pakistan Bureau of Statistics (PBS). Exports of leather garments grew by $37.631 million in July-February 2013-14 from $250.107 million in the same period of last fiscal year, the PBS said. In term of volume, exports of leather garments went up by 233, 000 dozens (38 percent) to 849,000 dozens during July-February 2013-14 from 616,000 dozens in the same period of last fiscal year.
Chief Executive, Trade Development Authority of Pakistan (TDAP), S. M. Muneer, has said that all the Commercial Counsellors of Pakistan around the world should be assigned the task of marketing Pakistani products aimed at promoting exports. Speaking at a dinner hosted by Pakistan Tanners Association (PTA), he said that new policy of TDAP for marketing Pakistani products following the award of GSP Plus status is in progress in consultation with all stakeholders.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
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Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln