*No respite in price hike on cotton market*
*The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by RS 300 per maund and closed it at Rs 14100 per maund.*
*The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by RS 300 per maund and closed it at Rs 14100 per maund. The Polyester Fiber was available at Rs 225 per kg.*
*The local cotton market remained bullish and trading volume remained low due to rains. Cotton Analyst Naseem Usman told Business Recorder that after ten years international cotton market crossed 100 cent. After the reports of cotton crop damage in India, China started to buy cotton from America.*
*The Prices of textiles and garments made in China are likely to rise by 30 to 40 per cent in the coming weeks on account of planned shut down in the industrial provinces of Jiangsu, Zhejiang and Guandong. The shut downs are due to governments efforts to reduce carbon emissions and shortage of electricity production owing to short supply of coal from Australia.*
*The rate of cotton in Sindh is in between Rs 1300 to Rs 14300 per maund and the rate of cotton in Punjab is in between Rs 13800 to Rs 14000 per maund.*
*The rate of the new crop of Phutti in Sindh was in between Rs 4800 to Rs 6000 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 kg.*
*The rate of Banola in Sindh is in between Rs 1350 to Rs 1800 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1900 per maund. The rate of cotton in Balochistan is in between Rs 13800- 14000 per maund. The rate of Phutti in Balochistan is Rs 6000- 7200 per maund.*
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