LAHORE: Dullness persists in local cotton market on Monday. Trading volume remained very low. The Spot Rate remained unchanged.
Cotton Analyst Nasseem Usman while talking to Business Recorder said that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 7000 to Rs 9000.
Cotton of Sindh was traded from Rs 18000 to Rs 20,000 per maund, Punjab’s cotton was traded from Rs 18000 to Rs 20,000 per maund. He also told that 740 bales of Khan Pur were sold at Rs 21000 per maund.
Pakistan’s textile industry has set a target a increase textile exports to $20 billion in the next few years. Its textile exports rose by 37 per cent to $1.69 billion in February 2022, as against $1.23 billion in February 2021, reveals All Pakistan Textile Mills Association.
The exports of textile commodities surged by 24.73 percent during the first seven months of the current fiscal year (2021-22) as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.
Sohail Pasha, Chairman, Pakistan Textile Exporters Association (PTEA) says, Pakistan’s textile exports experienced rapid recovery following the elimination of Covid-related restrictions.
Outbound shipments surged faster than those of regional competitors including Bangladesh and India. Textile exports surged by 26 per cent year-on-year to $9.38 billion in the first half of fiscal year 2021-22, he adds.
The Spot Rate remained unchanged at Rs 20,000 per maund. The rate of Polyester Fiber was increased by Rs 2 per kg and was available at Rs 275 per kg.
Copyright Business Recorder, 2022
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