ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,443
11424hr
Pakistan Cases
721,018
505024hr
Sindh
268,750
Punjab
248,438
Balochistan
20,241
Islamabad
65,700
KPK
98,301

NEW YORK: ICE cotton futures slumped more than 3% on Thursday as a US government report showed a sharp slide in weekly export sales, putting prices of the natural fibre on course for their third straight weekly decline.

Cotton contracts for May fell 2.95 cent, or 3.7%, to 77.93 cents per lb by 12:33 P.M. EDT. It traded within a range of 77.78 and 81.52 cents a lb.

The contract was down 3% so far this week.

“Today’s low number certainly affected the psyche of the market. Sales were terrible... (And) we are running way below the pace of what we have been doing,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia.

The US Department of Agriculture’s weekly export sales report showed that net sales of 78,400 running bales (RB) for 2020/2021 were down 71% from the previous week, while exports of 324,700 RB were up 4%.

“China cancelled about 24,000 bales and shifted 13,000 or so to Vietnam,” Brown said.

The United States is the biggest producer of the natural fibre, while China is the largest consumer.

The report showed that sales to China were at 13,500 RB, including decreases of 24,200 RB, while sales to Vietnam were at 97,300 RB, which included a switch of 13,600 RB from the top consumer.

Meanwhile, Pakistan’s cabinet on Thursday put off allowing imports of cotton and sugar from neighbouring India until Delhi reviews its 2019 move to revoke the Kashmir region’s special status, the foreign minister said.

The cotton markets will be closed on April 2 for the Good Friday holiday.

Total futures market volume fell by 13,544 to 30,083 lots. Data showed total open interest gained 618 to 228,646 contracts in the previous session.—Reuters