*PAKISTAN COTTON MARKET UPDATE*
*Prices drift lower on cotton market*
*The Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 200 per maund and closed it at Rs 13900 per maund.*
*The Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 200 per maund and closed it at Rs 13900 per maund. The rate of Polyester Fiber was increased by Rs 5 per kg and was available at Rs 225 per kg.*
*The local cotton market remained bearish 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 11500 to Rs 14100 per maund and the rate of cotton in Punjab is in between Rs 13600 to Rs 14100 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 4000 to Rs 5800 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6100 per 40 kg. The rate of Banola in Sindh is in between Rs 1550 to Rs 1800 per maund. The rate of Banola in Punjab is in between Rs 1450 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 13600- 13700 per maund. The rate of Phutti in Balochistan is Rs 5900- 6700 per maund.*
*All Pakistan Textile Mills Association (APTMA) Patron-in-Chief Gohar Ejaz has announced that the textile industry is going to invest $5 billion by adding 100 new textile plants which will provide 500,000 new jobs and increase textile exports.*
*SiS Commited to update you on all textile related news real time.*
*Regards*
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Team Sis
Any query plz call 9111677775
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