Lint prices higher at Rs 7,800, may go up further on cotton market
KARACHI (October 22, 2010): Rising demand kept the prices on higher side on the cotton market on Thursday in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 7550, they said. In the ready business over 44,000 bales of cotton changed hands between Rs 7450-7900, they said.
Cotton prices floating on cloud nine LAHORE (October 22, 2010): Global shortage of cotton, generally weaker value of the United States dollar over the past several months in comparison with a basket of leading currencies, bullish ferment in the commodities complex and aggressive hedge funds intrusion into the fiber futures have all aggregated to propel cotton prices to historically high levels. |
Challenges in textile industry: consultative meeting of stakeholders held ISLAMABAD (October 22, 2010): To review the emerging challenges in the textile industry, the ministry held a consultative meeting with all the stakeholders here on Thursday to chalk out future strategy. The meeting was presided over by the Federal Minister for Textile Rana M. Farooq Khan, which was attended by representatives from value-added as well spinning textile sectors. |
IGATEX Pakistan 2010 opens at Lahore Expo Centre today LAHORE (October 22, 2010): The 6th International Garment, Textile Machinery & Accessories Exhibition (IGATEX) organised by CEMS Pakistan (Ptv) Ltd opens at Lahore Expo Centre today. Federal Advisor on Textile, Dr Mirza Iftikhar Baig will be guest of honour. Having developed into one of the largest and well-established garment and textile machinery and accessories exhibitions in South Asia, IGATEX Pakistan will continue till October 24, 2010. |
KCA spot rate raised by Rs 100 to Rs 7,550; upward trend persists on cotton market KARACHI (October 21, 2010): Higher trend persisted on the cotton market on Wednesday as mills and exporters continued buying to meet the immediate requirements, dealers said. The Karachi Cotton Association (KCA) official spot rate was raised by Rs 100 to Rs 7550, they said. |
Zardari says no to 'restricted regime' in textile industry LAHORE (October 21, 2010): President Asif Ali Zardari has pledged All Pakistan Textile Mills Association (APTMA) no to the restricted regime of any sort in textile industry. "Only targeted subsidy will be offered to the weak industry links, if required," he said. President Zardari made this policy statement in a meeting organised in presidency to congratulate Chairman APTMA Gohar Ejaz for his rousing win in APTMA annual elections. |
Textile exports register 20.7 percent growth in first quarter KARACHI (October 21, 2010): The country's textile exports registered a healthy growth of over 20 percent during the first quarter of current fiscal year 2010-11 mainly due to high unit price. According to official statistics released by the Federal Bureau of Statistics, textile exports increased by 20.70 percent or $500 million in July-September of current fiscal year as compared to the same period last fiscal year. |
Government urged to bail out textile industry FAISALABAD (October 21, 2010): The Pakistan Textile Exporters' Association has demanded of the government to bail out the textile industry and exports from the current crisis by removing hurdles and provision of necessary incentives to increase the textile exports of the country. |
Soaring cotton prices: government must declare its strategy, stakeholders demand KARACHI (October 20, 2010): Amidst hovering uncertainties because of record-breaking highs in the cotton prices, stake-holders of textile sector are in search of the government's strategy for their near-term plan, dealers said on the cotton market on Tuesday The Karachi Cotton Association (KCA) official spot rate was left unchanged at Rs 7450, they said. |
PCGA rejects proposed taxation on cotton trade
MULTAN (October 20, 2010): The central executive committee of Pakistan Cotton Ginneers Association (PCGA) has rejected the proposed taxation on the cotton trade, describing it as "economic massacre of the ginners", and said that such steps would be harmful to the already destroyed industries. Addressing a meeting of CEC here on Tuesday.
Cotton Spot Rates
RECORDER REPORT
KARACHI (October 22 2010): Official KCA spot rates for local dealings in Pakistan rupees on Thursday (October 21, 2010).
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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
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MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 20.10.2010
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37.324 Kgs 7,550 120 7,670 7,670 NIL
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Equivalent
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40 Kgs 8,091 120 8,211 8,211 NIL
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