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National
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Prices move up on cotton market as monsoon rains cut phutti arrivals
KARACHI (July 29, 2010): Picking operations halted by ongoing monsoon
rains in the country, which cause increase in the rates on the cotton
market on Wednesday, dealers said. The Karachi Cotton Association (KCA)
official spot rate was higher by Rs 100 to Rs 6100, they said.
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Powerloom owners announce closure of factories
FAISALABAD (July 29, 2010): The representatives of the powerloom owners
on Wednesday have announced to shutdown their factories for indefinite
period. They also demanded of the government to provide protection to
their weaving units. Thousands of members of Powerloom Workers Union and
Labour Qaumi Movement held protests in favour of their demands in Ghulam
Muhammadabad Colony.
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Regulator Duty removal may help cotton trade come out of uncertainty
KARACHI (July 28, 2010): After the removal of Regulator Duty (RD) on the
exports of cotton yarn, the cotton market may find a definite direction
in the coming days, dealers said. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6000, they said.
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Value-Added Textile Forum rejects government's decision
MULTAN (July 28, 2010): Value-Added Textile Forum leader Syed Muhammad
Aasim Shah has rejected the decision of the cabinet committee on
textiles to waive 15 percent regulatory on textile and withdrawal of
quota restrictions describing it unjust and illogical. He said that
Federal Government had left Ready-made Garments Manufacturers, Bedwear
and Cloth manufacturers alone that earn ten-time more foreign exchange
than raw material exporters.
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Hike in power tariff resented
LAHORE (July 28, 2010): Leading textile Industrialist, Mian Faraz Alam
has criticised the government for allowing further increase of 64-paia
in the electricity tariff and termed it anti-industry step. In a
statement, Mian Faraz Alam said the increase in electricity tariff would
further enhance the cost of doing business and now it would be very
difficult for the businesses to afford electricity at such a high price.
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Yarn export: Aptma hails regulatory duty removal
KARACHI (July 28, 2010): Shahzad Ahmed, Chairman, All Pakistan Textile
Mills Association has hailed the decision of removal of 15 percent
Regulatory Duty on yarn export by the Cabinet Committee on Textile. In a
statement issued to the press Chairman Aptma Shahzad Ahmed welcomed the
decision of the Cabinet Committee on Textile that the free market
mechanism has to be implemented in its true spirit to enable the whole
chain of textile industry to stand on their feet in a competitive
environment.
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15 percent regulatory duty on yarn export goes
ISLAMABAD (July 27, 2010): The Cabinet Committee on Textile which met
with Finance Minister Dr Abdul Hafiz Sheikh in the chair on Monday
abolished 15 percent regulatory duty on export of yarn and decided to
carefully monitor domestic availability of the commodity. "Now there
will be no government intervention and free market mechanism would
prevail as far as export or import is concerned," a senior official of
the Textile Ministry told Business Recorder.
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Agricultural department advises cotton growers
LAHORE (July 27, 2010): Punjab agriculture department has advised cotton
growers that selection of right pesticide, and its timely and correct
application is very necessary for controlling pests as well as avoiding
financial loss. In an advisory issued here on Monday, the department
warned growers not to spray pesticides at noontime, use recommended
pesticides and their quantity and check nozzle of sprayer before spray
to ensure equal application of pesticides on crops.
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Spot rate raised to Rs 6,000; lint prices firm on cotton market
KARACHI (July 27, 2010): Steady trend was seen on the cotton market on
Monday as mills were active in forward buying, dealers said. The Karachi
Cotton Association (KCA) official spot rate was up by Rs 150 to Rs 6000,
they said. In the ready business over 5,400 bales of cotton changed
hands between Rs 5850-6200, they said.
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No duty, no quota on yarn export
LAHORE (July 27, 2010): Sanity prevailed finally on the part of
government with Federal Cabinet Committee on Textile deciding no duty,
no quota on exports of yarn and brining a big sigh of relief to the
cotton growers, ginners, spinners and value-added exporters in general.
It may be noted that the whole textile chain spent a spellbound Monday,
waiting anxiously the outcome of Federal Cabinet Committee on Textile
regarding the fate of 15 percent regulatory duty on exports of yarn to
facilitate local ancillary industry.
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US urged to end 'discriminatory' policy
KARACHI (July 27, 2010): The US continues to deny the preferential
custom tariff to Pakistan despite being its major ally in the war
against terrorism, said the Investment Advisor to the Chief Minister
Sindh Zubair Motiwala. Speaking at the certificate distribution ceremony
on Monday, jointly organised by the USAID and Pakistan Readymade
Garments Manufacturers and Exporters Association (Prgmea), he urged the
US authorities to end its discriminatory policy regarding Pakistan.
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Decision on 15 percent RD on yarn exports would determine the direction of
cotton market
KARACHI (July 26, 2010): The second round of monsoon rains, normal to
heavy, lashed major cotton areas of Sindh and Punjab last week impacting
positively the cotton crop development in most of cotton areas but
simultaneously temporarily disrupting the arrival of seed-cotton in to
ginneries/markets. Another plus point of these rains is the washing away
of pest effect from cotton plants.
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Over 0.1 million powerloom units continue strike
FAISALABAD (July 26, 2010): More than 0.1 million powerloom units
remained closed on sixth consecutive day Sunday in more than 12
industrial areas including Sidhar, Thikreewala, Faizabad, Ghulam
Muhammadabad and Qadirabad, here Friday. Workers observed complete
strike and staged protest peacefully for increasing salaries according
to the agreements and decisions of Punjab government.
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Cabinet body to discuss RD on yarn export today
ISLAMABAD (July 26, 2010): A meeting of the Cabinet Committee on Textile
has been convened on Monday (today) to resolve the dispute between the
value-added textile and spinning sector over the lapse of 15 percent
Regulatory Duty (RD) on export of yarn effective Monday (today), it is
learnt. RD on yarn export was imposed for 60 days and is due to expire
on July 26, 2010.
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Government urged to extend period of RD on export of cotton yarn
ISLAMABAD (July 26, 2010): Pakistan Readymade Garments Manufacturers and
Exporters Association (PRGMEA) has urged the government to extend the
period of Regulatory Duty (RD) on export of cotton yarn so that local
industry could get raw material at reasonable prices.
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Decision on 15 percent RD on yarn exports would determine the direction of
cotton market
KARACHI (July 26, 2010): The second round of monsoon rains, normal to
heavy, lashed major cotton areas of Sindh and Punjab last week impacting
positively the cotton crop development in most of cotton areas but
simultaneously temporarily disrupting the arrival of seed-cotton in to
ginneries/markets. Another plus point of these rains is the washing away
of pest effect from cotton plants.
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Over 0.1 million powerloom units continue strike
FAISALABAD (July 26, 2010): More than 0.1 million powerloom units
remained closed on sixth consecutive day Sunday in more than 12
industrial areas including Sidhar, Thikreewala, Faizabad, Ghulam
Muhammadabad and Qadirabad, here Friday. Workers observed complete
strike and staged protest peacefully for increasing salaries according
to the agreements and decisions of Punjab government.
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Cabinet body to discuss RD on yarn export today
ISLAMABAD (July 26, 2010): A meeting of the Cabinet Committee on Textile
has been convened on Monday (today) to resolve the dispute between the
value-added textile and spinning sector over the lapse of 15 percent
Regulatory Duty (RD) on export of yarn effective Monday (today), it is
learnt. RD on yarn export was imposed for 60 days and is due to expire
on July 26, 2010.
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Government urged to extend period of RD on export of cotton yarn
ISLAMABAD (July 26, 2010): Pakistan Readymade Garments Manufacturers and
Exporters Association (PRGMEA) has urged the government to extend the
period of Regulatory Duty (RD) on export of cotton yarn so that local
industry could get raw material at reasonable prices.
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Steady conditions prevail on cotton market
KARACHI (July 25, 2010): Firmness prevailed on the local cotton market
on Saturday as the ginners were not ready to sell below their
psychological level as rains in the Punjab continued and may cause
stoppage in phutti arrival, dealers said. The Karachi Cotton Association
(KCA) official spot rate maintained overnight rate at Rs 5,850, they
said.
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Free trade policy': Aptma hails President's statement
KARACHI (July 25, 2010): All Pakistan Textile Mills Association (Aptma)
has hailed the statement of the President of Pakistan Asif Ali Zardari
that he believes in Free Trade Policy and all sectors of textile chain
should be provided level playing field.
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Textile industry playing vital role in national economy
ISLAMABAD (July 25, 2010): Textile industry is backbone of Pakistan's
economy and it is playing vital role in the national exchequer and it
contributes 60 per cent share in the total exports, said Kashif Shabbir,
President, Rawalpindi Chamber of Commerce and Industry (RCCI) here on
Saturday.
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PSF industry tariff structure be reviewed'
ISLAMABAD (July 25, 2010): The Competition Commission of Pakistan (CCP)
has recommended that tariff structure for the Polyester Staple Fibre (PSF)
industry may be reviewed by the ministry of textile and the ministry of
commerce and the structure may be set in accordance with cascading
principal.
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PCGA rejects allegations of VATF regarding cotton stock
MULTAN (July 24, 2010): Pakistan Cotton Ginners Association (PCGA) has
rejected the allegations of Value Added Textile Forum (VATF) and said
that it is impossible to stock cotton and phutti for a long time. It
just cannot be done, they said adding that cotton is the crop, which
destroys easily and it cannot be stored for a long tim
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Spot rate cut by Rs 150 amidst good activity on cotton market
KARACHI (July 24, 2010): Modest trading was seen on the cotton market on
Friday as ginners showed some hesitance in selling below their
psychological levels, dealers said. The Karachi Cotton Association (KCA)
official spot rate was slashed by Rs 150 to at Rs 5,850, they said. In
the ready business some 5,800 bales of cotton changed hands between Rs
5600-6090, they said.
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Value-added textile exporters urged to identify problems
KARACHI (July 24, 2010): In a move to remove hurdles in the process of
exports, Member Customs Munir Qureshi on Friday urged the value-added
textile exporters to identify problems which hamper their workings.
Speaking at a meeting with the members of Pakistan Readymade Garments
Manufacturers and Exporters Association (Prgmea) he said the exporters
should hold meetings with the concerned officials of Customs to find an
immediate and permanent solution of their problems.
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APPLA seeks government's help
KARACHI (July 24, 2010): President All Pakistan Power Looms Association
(APPLA) Sindh Zone Mohammad Ashfaq has urged the government to take
appropriate measures in helping the sector to reduce its expenditure in
manufacturing fabrics in the country, which would consequently minimise
the chances of fabrics smuggling from Afghanistan to Pakistan.
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Increase in wages: Powerloom workers' strike continues
FAISALABAD (July 24, 2010): The strike of Powerlooms Workers remained
continued on fourth consecutive day in five industrial areas including
Sidhar, Faizabad and Qadirabad, here on Friday, while the negotiations
of Powerlooms Owners with local Labour Leaders have failed.The labour
leaders of Powerlooms Workers Union and Labour Qaumi Movement have
announced that the strike would be continued till acceptance of the
demands.
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Lint, phutti prices turn easy on cotton market
KARACHI (July 23, 2010): Prices fell marginally on the cotton market on
Thursday as picking operations accelerated despite rains in the cotton
growing areas, dealers said. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6,000, they said. In the ready
business, over 3500 bales of cotton changed hands between Rs 5700-6150,
they said.
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14 million cotton bales to be produced this year, says Gondal
MULTAN (July 23, 2010): Federal Minister for Food and Agriculture, Nazar
Muhammad Gondal Thursday categorically denied reports that 80 percent
cotton crop was affected by leaf curl virus and pest attacks, saying
Pakistan would produce 14 million bales of cotton this season, which
were sufficient to meet requirements of the textile industry.
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Pressure mounts on cotton prices
LAHORE (July 23, 2010): With early and increasing arrivals of new crop
cotton (2010-2011), fiber prices continue to face more pressure.
Wholesome monsoon showers over the past week or ten days, particularly
in Punjab, are being deemed positive for the growth and development of
the new crop. Thus lint prices kept declining this week.
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Aptma expresses shock over VATF's accusation
KARACHI (July 23, 2010): All Pakistan Textile Mills Association (Aptma)
sources have expressed shock and joy at the accusation from the Value
Added Textile Forum (VATF) published in a section of press dated 21 July
2010 whereby VATF has accused the spinners of being able to manipulate
cotton prices and urged the government to forbid the spinners to keep
more than 2 months of cotton requirements in their mills.
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Lint prices firm, spot rate restored at Rs 6,000 on cotton market
KARACHI (July 21, 2010): Mills' demand persisted on the cotton market on
Tuesday following the uncertainties about the decision over the exports
of cotton yarn, dealers said. The Karachi Cotton Association (KCA)
official spot rate recovered it's overnight losses, raised by Rs 200 to
Rs 6,000, they said.
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Legislation under way in US to abolish tariff on textiles
ISLAMABAD (July 21, 2010): The US delegation, during its recent visit,
has conveyed to the government of Pakistan that legislation to abolish
tariff on textiles is underway, which would enable Pakistan's textile
sector to export its products to the US market without paying duties,
Business Recorder has learnt.
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Some spinners manipulating cotton prices: VATF
ISLAMABAD (July 21, 2010): Value Added Textile Forum (VATF) has written
a letter to President Asif Ali Zardari accusing some spinners of
manipulating cotton prices by hoarding stocks of cotton and operating as
traders in raw cotton. The letter urged the government to ensure that
spinners do not trade in cotton.
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15 percent RD on yarn export: Senate body recommends extension up to
August 26
ISLAMABAD (July 21, 2010): Senate Standing Committee on Textile Industry
has recommended extension of 15 percent Regulatory Duty (RD) on yarn
export up to August 26, 2010 and directed the Textile Ministry to
prepare annual cotton yarn policy setting an export target for Aptma.
The Committee, which met on Tuesday at the Parliament House, urged for
formulation of a strategy to regulate the export of yarn in the upcoming
season.
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Slow phutti arrivals help in stabilising prices on cotton market
KARACHI (July 20, 2010): Slight halt in phutti arrivals, helped the
prices to stabilise on the cotton market on Monday, dealers said. The
Karachi Cotton Association (KCA) official spot rate decline was
minimised, reducing by Rs 200 to Rs 5,800, they said. In the ready
business over 7000 bales of cotton changed hands between Rs 5300-6200,
indicating a halt in the continued and sharp depreciation in the rates,
they said.
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15 percent regulatory duty on yarn export: value-added textile, spinners
row continues
ISLAMABAD (July 20, 2010): Value-added textile and spinning sectors on
Monday stuck to their guns on continuation and doing away with 15
percent Regulatory Duty (RD) on export of yarn, informed sources
revealed. The Cabinet Committee on Textile on May 12, 2010 had slapped
15 percent RD on export of all types of yarn for a period of 60 days to
ensure ample supply of yarn in the local market. However, RD on export
of yarn will expire on July 26.
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Cotton market crashed on panic selling
KARACHI (July 19, 2010): This time, timely and sufficient rains in
Punjab and Sindh provinces have brightened prospects for a record high
cotton production of over 15.0 million statistical bales in 2010-11
season. Although officially new cotton seasons commences from every 1st
of August and ends on every 31st of July every year but practically it
takes start from June or July month in Pakistan.
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Spot rate, lint, phutti prices nosedive as cotton market crashes
KARACHI (July 18, 2010): Drastic cut was seen in ready and the spot rate
on the cotton market on Saturday in a single session, thus, since the
week started, the rates fell by Rs 2000 to Rs 5300, dealers said. The
Karachi Cotton Association (KCA) official spot rate was brought down
sharply by Rs 700 to Rs 6,000, they said.
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Bears dominate spot rate, ready business on cotton market
KARACHI (July 17, 2010): Bearish trend persisted on
the cotton market on Thursday as mills were making new deals to keep
themselves safe from any apprehension, dealers said. The Karachi Cotton
Association (KCA) official spot rate was extended overnight fall by Rs
200 to Rs 6,700, they said.
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Syed Omer Nazar named Aptma Faisalabad office Convenor
FASIALABAD (July 17, 2010): Syed Omer Nazar Shah, a
prominent industrialist of Faisalabad, Chief Execu-tive of Hassan
Spinning Mills Ltd and founder President of Young Entrepreneurs
Organisation Pakistan has been appointed as Convenor, Aptma (All
Pakistan Textile Mills Association) Faisalabad branch. The decision was
unanimously made at the Zonal Managing Committee meeting.
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Lint prices sharply lower, spot rate cut to Rs 6,900 on cotton market
KARACHI (July 16, 2010): Prices came further down on
the cotton market on Thursday as picking operations accelerated after
the recent rains, dealers said. The Karachi Cotton Association (KCA)
official spot rate was declined by Rs 200 to Rs 6,900, they said. In the
ready business, rates fell sharply by Rs 400 as nearly, 5000 bales of
cotton changed hands between Rs 6,000-7,050, they said.
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Precipitous fall in cotton prices
LAHORE (July 16, 2010): In line with the global
economic uncertainty combined with seasonal blues in most markets around
the world from the long term perspective, lint prices in Pakistan
crashed by about Rs 800 per maund (37.32 Kgs) over the past three days.
Government indeterminacy regarding the fate of any further extension of
Regulatory Duty on yarn exports is further accentuating panic among the
ginners and the growers.
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Phutti prices fall, spot rate raised on cotton market
KARACHI (July 15, 2010): Phutti rates were down on the cotton market on
Wednesday amid active buying by the mills, dealers said. The Karachi
Cotton Association (KCA) official spot rate, however, was surged by Rs
100 to Rs 7100, they said. In the ready business nearly 4000 bales of
cotton changed hands between Rs 7000-7300, they said.
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APTMA opens branch office in Faisalabad
LAHORE (July 15, 2010): All Pakistan Textile Mills Association (APTMA)
Punjab has established branch office of the Association in Faisalabad
with Omar Nazar Shah, as first-ever Convenor. Decision to this effect
was taken in Zonal Management Committee (ZMC) of APTMA Punjab held under
the chairmanship of Gohar Ejaz the other day.
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Between value-added textile, spinning sector: new tug of war on the cards
ISLAMABAD (July 15, 2010): A new tug of war between the value-added
textile and spinning sector is on the cards if the government extends 15
percent regulatory duty or abolishes it on export of yarn, informed
sources in the Textile sector revealed. Sources in the Textile Ministry
revealed to Business Recorder that a meeting of all stakeholders
has been convened on July 19, 2010 to seek their recommendations on the
yarn issue to table in the upcoming meeting of the cabinet committee on
textile.
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Prices firm with modest activity, spot rate up by Rs 50 on cotton market
KARACHI (July 14, 2010): Prices stabilised on the cotton market on
Tuesday as mills are active in fresh buying because the ginners were
selling cotton on the rates matching with the psychological levels,
dealers said. The Karachi Cotton Association (KCA) official spot rate
was restored some lost ground, raising by Rs 50 to Rs 7000, they said.
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PRGMEA chief for locating textile industry in low wage areas
LAHORE (July 14, 2010): Chairman Pakistan Readymade Garments
Manufacturers & Exporters Association (PRGMEA) Mohsin Ayub Mirza has
said that rural wages should be 35 percent less than urban areas to
encourage investors to invest in low production cost locales. Talking to
Business Recorder, he said it is imperative for a vast country that two
scales of wages are adopted.
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Carpet makers lodge complaint against TDAP
ISLAMABAD (July 14, 2010): Pakistan Carpet Manufacturers and Exporters
Association on Tuesday called on Commerce Minister, Makhdoom Amin Fahim
and lodged a complaint against Trade Development Authority of Pakistan (TDAP)
which, according to them, is not extending co-operation to the carpet
sector.
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Rainy weather may cause short supply, stabilise rates on cotton market
KARACHI (July 13, 2010): Rainy weather may help the cotton prices to
stabilise as arrivals of phutti would stop in the cotton growing areas,
in Sindh and particularly in Punjab, dealers said on cotton market on
Monday. The Karachi Cotton Association (KCA) official spot rate was
reduced by Rs 50 to Rs 6,950, they said.
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Unprecedented volatile fluctuations in spot rate, lint and phutti prices
witnessed through week
KARACHI (July 12, 2010): Cotton prices showed rapid rise during the
week, KCA official spot rate to Rs 7350 and lint to Rs 7500, which kept
buyers' head reeling and there seemed no check. But restraint on the
part of buyers and increase in phutti arrivals pulled the prices down.
Lint trading range was down at Rs 6800-7200, spot rate at Rs7000, phutti
in Punjab at Rs3000-3150 and in Sindh at Rs3000-3025.
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Spinner-buyers trimmed abnormal increase in cotton prices
KARACHI (July 12, 2010): New crop cotton harvesting is gaining momentum
day by day and so the ginning operations. Last week some cotton areas of
Lower Sindh received normal rains, which largely benefited the plants.
In Punjab also rain was reported from some cotton areas of central
Punjab which also has been mentioned as quite beneficial for cotton
crop.
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PHMA for allowing import of textile accessories from India
KARACHI (July 12, 2010): Pakistan Hosiery Manufacturers Association (PHMA)
has proposed the government to allow import of textile accessories from
India to fulfil the foreign buyers' products demands. The association
wants the SRO 1065(I)/2005 dated October 20, 2005, which is primarily
for import of textile accessories, should also enshrine such imports
from India.
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Rising phutti arrivals pull down prices sharply on cotton market
KARACHI (July 11, 2010): Increase in phutti arrivals pushed the prices
down sharply on the cotton market on Saturday in process of trading,
dealers said. The Karachi Cotton Association (KCA) official spot rate
was down by Rs 350 to Rs 7,000, they said. In the ready business, about,
2,000 bales of cotton changed hands between Rs 6800-7200, they said.
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Fashion designer pleads for value added textile
LAHORE (July 11, 2010): Pakistan is the fourth largest producer and
third largest user of cotton. Yet we are 12th in terms of international
trade, which means much of our advantage is lost in low value added
semi-manufactured exports. Textile in the West has undergone massive
restructuring and now become capital intensive.
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Yarn exports allowed on cash payment
LAHORE (July 11, 2010): Government has allowed exports of yarn on cash
payment having received a quota within the allocation of 32,000 tones
against valid Letters of Credit (LCs). It may be noted that export of
yarn against valid LCs, on first-come-first-served basis, opened before
May 12, 2010 are allowed without regulatory duty for a maximum quantity
of 32,000 tones.
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CLCV resistant cotton varieties: PARB working on two different projects
LAHORE (July 11, 2010): Punjab Agricultural Research Board (PARB) is
working on two different projects to develop Cotton Leaf Curl Virus (CLCV)
resistant cotton varieties, which is one of the major cotton production
limiting factors. The Board is working on these two projects in
collaboration with local and foreign experts at a cost of over Rs 40
million, sources in the Board told Business Recorder here on
Saturday.
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Sharp fall witnessed in rates on cotton market
KARACHI (July 10, 2010): Prices came down sharply on the cotton market on
Friday as a result of heavy selling by ginners, dealers said. The Karachi
Cotton Association (KCA) official spot rate was unchanged at Rs 7,350, they
said. In the ready business approximately, 2,500 bales of cotton changed hands
between Rs 7000-7500. Two deals from different stations done at Rs 7000, they
said.
Seth Mohammed Akbar elected PCF chairman
LAHORE (July 10, 2010): Pakistan Cotton Forum (PCF), a joint platform of
Farmers Associates Pakistan (FAP), Pakistan Cotton Ginners Association (PCGA),
Karachi Cotton Association (KCA) and All Pakistan Textile Mills Association
(Aptma) elected unanimously Seth Mohammed Akbar and Hussain Jahanian Gardezi
as its first Chairman and Vice Chairman respectively.
TEXWORLD USA fair: Textile manufacturers' team to leave
for New York
KARACHI (July 10, 2010): Federal Advisor on Textile, Dr Mirza Ikhtiar Baig
will be heading a delegation of leading textile manufacturers and exporters of
value added textile to TEXWORLD USA to he held at Javitrs Cener , New York
from July 13-16,2010. Dr Baig said that TEXWORLD USA is an important
exhibition for US market for our textile products. On the initiative of
Ministry of Textile, TDAP have sponsored the exhibition.
CCP conducts search, inspection of PJMA head office
ISLAMABAD (July 10, 2010): The Compe-tition Commission of Pakistan, (CCP)
conducted search and inspection of the head office of the Pakistan Jute Mills
Association (PJMA) in Lahore on July 8, 2010, pursuant to Section 34 of the
Competition Ordinance.
Spot rate up by Rs 100 at Rs 7,350 on cotton
market
KARACHI (July 09, 2010): Firmness prevailed on
the cotton market on Thursday as spot's surge was maintained in process of
trading, dealers said on Thursday. The Karachi Cotton Association (KCA)
official spot rate was extended, raising by Rs 100 to Rs 7,350, they said. In
the ready business approximately, 2,500 bales of cotton changed hands between
Rs 7300-7500, they said.
Meteoric rise in cotton prices
LAHORE (July 09, 2010): Cotton prices climbed to dizzy heights at
unprecedented levels when premium quality of new
crop (2010-2011) from Punjab reportedly sold between Rs 7,450 to Rs 7,500 per
maund (37.32 kgs) ex-gin on Thursday in a lint starved market breaking all
previous records.
APTTA talks: Kabul raised issue of textile products' smuggling
ISLAMABAD (July 09, 2010): Afghanistan raised the
issue of smuggling of textile products, particularly fabrics and other items
through land route from Pakistan to Afghanistan during recently concluded
talks on the proposed Afghan Pakistan Transit Trade Agreement (APTTA). Sources
told Business Recorder here on Thursday that the Afghan side has identified
many items including textile, fabrics, flour and other commodities which are
being smuggled from Pakistan to Afghanistan under the cover of bilateral
trade.
Pay raise: owners, workers of powerloom industry advised
to settle issue amicably
FAISALABAD (July 09, 2010): District Co-ordination Officer, Saeed
Wahlah has advised the owners and workers of powerloom
industry to settle their issues with mutual understanding so that business
activities could continue in a conducive and peaceful environment. He was
presiding over a joint meeting of representatives of powerloom owners and
workers to discuss the issues related to the increase in wages of the workers.
Aptma, value added exporters meet to chalk out
strategy
LAHORE (July 09, 2010): All Pakistan Textile
Mills Association (Aptma) and value added manufacturers
organised first round of talks on Thursday to chalk out joint strategy.
Financial constraints, shortage of cotton and energy besides imminent tax
related issues have jeopardised the textile industry.
Lint prices hit new high at Rs 7,500; spot rate at Rs
7,250 on cotton market
KARACHI (July 08, 2010): Cotton prices
maintained upward journey as many deals finalised at new high at Rs 7,500 amid
speculative buying, dealers said on Wednesday. The Karachi Cotton Association
(KCA) official spot rate its continued surge was maintained, rising by Rs 150
to Rs 7,250, they said.
Availability of yarn at affordable prices:
spinners, value added exporters urged to evolve
joint strategy
LAHORE (July 08, 2010): Federal Textile Minister Rana Farooq Saeed has
urged spinners and value added exporters to evolve a joint strategy on the
availability of yarn at affordable prices. He was chairing a joint meeting of
textile industry at the Textile House on Wednesday. According to Rana, the
ministry is working for the growth of all sectors of textile industry.
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Persistent price rises cause uncertainties among cotton traders
KARACHI (July 07, 2010): Prices maintained their upward march on the
cotton market on Tuesday and caused unforeseen uncertainties in the
cotton circle, dealers said. The Karachi Cotton Association (KCA)
official spot rate kept on rising continuously, increasing by Rs 100 to
Rs 7100, they said. In the ready business, approximately, 6000 bales of
cotton changed hands between Rs 7000-7300 including 3000 bales from old
crop, they said.
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Revision of duty on PTA: ECC tells MoC to take ministries, divisions on
board
ISLAMABAD (July 07, 2010): The Economic Co-ordination Committee (ECC) of
the Cabinet has directed the Commerce Ministry to take all concerned
ministries and divisions on board and to table a joint proposal on
revision of custom duty on Pure Terephthalic Acid (PTA), a major raw
material for polyester and textile industries used in the manufacturing
of Polyester Staple Fiber (PSF), Business Recorder has learnt.
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Abnormal rise in cotton prices: 100 spinning mills may close operations
LAHORE (July 07, 2010): As many as 100 spinning mills are likely to
close operations due to rise in cotton prices to Rs 7000 per maund, said
industry sources. It may be noted that around 50 spinning mills have
already closed operations due to rising phenomenon in cotton prices and
another 50 are likely to join them soon.
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KCA spot rate up by Rs 150 in a single day rally, lint at Rs 7,200
KARACHI (July 06, 2010): After crossing the all-time high mark in ready, the
spot rate was shot up sharply on the cotton market on Monday due to short
supply position, dealers said. The Karachi Cotton Association (KCA) official
spot rate's upward journey was maintained, raising sharply by Rs 150 to Rs
7000, they said. In the ready business, approximately, 2000 bales of cotton
changed hands between Rs 7000-7200, they said.
Unprecedented all-round price flare-up seen on cotton
trade; better crop reports, early arrivals ignored
KARACHI (July 05, 2010): The growers information that cotton production
is likely to be bumper. But consumption is estimated to be more than
production, world recession not withstanding. As a result on week's closing
day spot rate was jumped by Rs 150 ie Rs 300 rise in a week, lint touched Rs
7000 mark, phutti was selling in Punjab at Rs3100-3225 and in Sindh at Rs
300-2025. Thus there was unprecedented all-round price flare up.
Uncertain conditions confuse cotton market
KARACHI (July 05, 2010): During the last week, weather has been quite
favourable for cotton plant development. With the end of June month, even late
cotton sowing is reported to have been completed. However, final figures about
area sown to cotton is yet to be announced by the government but last year
(2009-10) it was 3.106 million hectares and with 10 percent increase, it may
be around 3.416 million hectares.
Shortage pushes spot rate to Rs 6,700; lint price may touch Rs 7,000 level
KARACHI (July 03, 2010): Short supply caused further rise in the prices and
it is most likely that present trend may continue in the coming days,
dealers said on the cotton market on Thursday. The Karachi Cotton
Association (KCA) official spot rate maintained its surge, gaining further
Rs 50 to Rs 6,700, they said.
First time in history: 30,000 bales of new cotton crop
arrive in June
KARACHI (July 02, 2010): First time in the history of cotton, nearly 30,000
bales of cotton of new season 2010-11 arrived at ginneries in June, dealers
said on the cotton market on Thursday. The Karachi Cotton Association (KCA)
official spot rate maintained its surge, gaining Rs 50 to Rs 6,650, they said.
About 3000 bales of cotton changed hands between Rs 6500-6750, they said.
Cotton still being exported: Bilwani
KARACHI (July 02, 2010): It is a matter of great concern for the value added
textile sector that despite scarcity of cotton in the country still cotton is
being exported from Pakistan to our competing countries, even in the month of
April and May cotton export continues unabated, lamented M. Jawed Bilwani, Co-ordinator,
Value Added Textile Forum.
Short supply pushes up cotton prices
LAHORE (July 02, 2010): Despite decrease in New York cotton futures prices
(ICE) this week and the alarming banking, sovereign debts and faltering
economic situation around the world, domestic prices in Pakistan have perked
up this week to near record levels. Paucity of cotton in the ready market and
at least a couple of more months to go before the new Pakistan crop
(2010-2011) arrivals gain momentum to ensure regular supply have propelled
cotton prices to high levels.
Cotton yarn: call for devising clear-cut export policy
FAISALABAD (July 02, 2010): Value added textile exporters have urged the
government to come out clearly with a cotton and yarn policy for the next
period of 2010-11 to enable the exporters plan for USD 15 billion textile
exports benchmark. Talking to newsmen here Thursday, leaders of Value Added
Textile Forum Khurram Mukhtar, Rana Mushtaq Khan and Sohail Pasha, while
appreciating USD 10 billion exports of textiles in the outgoing fiscal, said
that for the fourth consecutive year, exports of textile group have maintained
USD 10 billion plus export benchmark.
Lint price, spot rate turn higher on cotton market
KARACHI (July 01, 2010): Prices were sharply higher on the cotton market on
Wednesday on rising demand by the mills, dealers said. The Karachi Cotton
Association (KCA) official spot rate was raised by Rs 50 to Rs 6,600, they
said. More than 3,200 bales of cotton changed hands between Rs 6500-6750, they
said. Phutti prices were at Rs 2850-3100 in Punjab and in Sindh the rates were
at Rs 2825-2850, they added.
Hafeez asked to sort out problems of textile industry
ISLAMABAD (July 01, 2010): Prime Minister Syed Yusuf Raza Gilani on Wednesday
directed the Finance Minister to convene a meeting of all the stakeholders of
the textile sector to sort out problems of the industry. The Prime Minister
was chairing a meeting of the textile industry representatives at the PM
Chamber in the Parliament House here. He asked the Finance Minister to resolve
the tax refund issue at the earliest.
'Government should take steps to bridge gap between
demand, supply of power'
FAISALABAD (July 01, 2010): Efficient use of
available energy resources is must to produce cheap exportable surplus and
earn precious foreign exchange for the country, said Tanvir Safdar Cheema
Chief Executive Officer Fesco. Addressing a save energy workshop organised
jointly, Cleaner Production Institute and All Pakistan Textile Processing
Mills Association, he said that wide gap between demand and supply of energy
has necessitated the importance of save energy.
Rs 10 billion earmarked for EISF in budget: Dr Baig
LAHORE (July 01, 2010): Dr Mirza Ikhtiar Baig, Federal Advisor on Textile,
Government of Pakistan in an interview with the Indian world's apparel,
textiles, fashion and retail industries news said that the government has
allocated Rs 10 billion in the budget 2010-11 for the 'Export Investment
Support Fund'(EISP) to provide mark up rate on export refinancing and rebate
on fabric, home textiles and garments to achieve the export target of 25
billion dollar in the next five years.
Phutti prices sharply higher as more ginning factories begin operation
KARACHI (June 30, 2010): With the improvement of pace of phutti
arrivals prices also went up sharply on the cotton market on Tuesday as more
ginning factories have started work. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6,550, they said.
Aptma team meets Hafeez Shaikh
ISLAMABAD (June 30, 2010): A six-member delegation of All Pakistan
Textile Mills Association (Aptma), led by its Chairman, Shahzad Ahmad, called
on Dr Abdul Hafeez Shaikh, Federal Minister for Finance here on Tuesday.
During the meeting, the members of Aptma discussed the problems being faced by
the textile industry in Pakistan.
Price stable in modest trading on cotton market
KARACHI (June 29, 2010): Fears of surge in prices forced the mills to adopt
cautious attitude toward the forward buying, dealers said on the cotton market
on Monday. The Karachi Cotton Association (KCA) official spot rate was
unchanged at Rs 6,550, they said. In the ready business approximately 1200
bales of cotton from different stations changed hands within the range of Rs
6400-6650, they said.
Duty on PSF may be increased by 1.5 percent: ECC meets
today
KARACHI (June 29, 2010): The government is considering increasing the import
duty on Polyester Staple Fiber (PSF) from 4.5 percent to 6 percent a move that
aimed at protecting local manufacturers. Sources in the textile industry told
Business Recorder on Monday the Economic Co-ordination Committee (ECC) would
review the PSF duty structure in its meeting on Tuesday, June 29.
Hand-knotted carpets: SBP revises performance criteria
under EFS
KARACHI (June 29, 2010): The State Bank of Pakistan on Monday revised
performance criteria under the under Part-II of Export Finance Scheme (EFS)
for hand-knotted carpets for the current 2009-10 fiscal year to facilitate
exporters.New crop phutti arrivals fail in bringing down
prices, spot rate raised by Rs 200 in view of short crop estimates world over
KARACHI (June 28, 2010): Cotton market stayed widely inactive, despite new
crop phutti has started arriving in Sindh and Punjab, but ginners were
unprepared to relax prices. Spot rate was twice raised cumulatively by Rs 200
to Rs 6550.
Domestic spinning mills greet new cotton crop with
handsome price
KARACHI (June 28, 2010): Cotton activities from sowing to harvesting and to
ginning continue throughout the year in Pakistan. Sometime, ginning operation
continues whole of the year. Presently, cotton sowing of 2010-11 season has
hardly been completed while harvesting of the same crop has also commenced and
so the ginning operations in new cotton crop.
Senator urges access for Pakistan's textiles to US and
Europe
KARACHI (June 28, 2010): The chairman of Senate standing committee on textile,
Gul Mohammed Lot, has said that providing access to Pakistan's textiles to US
markets will be a greater US help for Pakistan. Talking to a delegation of
industrialists at his residence here on Sunday, he emphasised that while
holding talks with the US authorities at different levels, "our stress should
be on trade on lasting basis instead of aid".
US urged to sign free trade agreement with Pakistan
ISLAMABAD (June 28, 2010): Minister for Textile Industry Rana Farooq Saeed
Khan urged the United State (US) authorities to sign free trade agreement with
Pakistan. He said this while talking to a delegation of industrialists from
value added textile industry who called upon Ms Faryal Talpur President PPP
Women Wing and Rana Farooq Saeed Khan, Minister for Textile Industry recently
here at Zardari House Islamabad.
Prices steady despite growing arrivals on cotton market
KARACHI (June 27, 2010): Steady trend was seen on the cotton market on
Saturday as mills were active in buying of new crop in anticipation of
increase in the rates, dealers said. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6,550, they said. In the ready business
approximately 2000 bales of cotton from different stations changed hand within
the range of Rs 6200-6600, they said.
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Prices up as monsoon rains begin over cotton belt
KARACHI (June 26, 2010): Prices showed further increase as the monsoon
rains started in the cotton belt but the rains are beneficial for the
standing crop, experts said on the cotton market on Friday. The Karachi
Cotton Association (KCA) official spot rate was raised by Rs 50 to Rs
6,550 the second rise in two days, showing a net gain of Rs 150, they
said.
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Restricting surplus yarn exports: Country loses $100 million in May
LAHORE (June 26, 2010): The country has lost approximately $100 million
in the month of May due to restricting exports of about 34000 tones
surplus yarn, revealed the exports figures by Trade Development
Authority of Pakistan (TDAP). Not only this, said the sources, exports
of knitwear, bed wear and readymade garments have declined by 5 percent,
9 percent and 3 percent, respectively in quantity terms during the month
of May comparing with the corresponding period.
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KARACHI (June 24, 2010): Firmness prevailed on
the cotton market on Wednesday, experts said. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6,400. In the ready business,
approximately 800 bales of new crop cotton from different stations changed
hand within the range of Rs 6400-6500, they said. Phutti from the Punjab was
trading at Rs 2900-3000 and at Rs 2750-2800 per maund in Sindh, they added.
Yarn prices soar again in domestic market
LAHORE (June 24, 2010): Yarn prices are soaring again in domestic market with
short supply from the spinners, leading to continuity of crisis like situation
for the value-added sector. It may be noted that the yarn prices had dwindled
down substantially right after the imposition of 15 percent regulatory duty on
exports of yarn.
Firm trend depicted in new crop deals on cotton market
KARACHI (June 24, 2010): Firmness prevailed on
the cotton market on Wednesday, experts said. The Karachi Cotton Association (KCA)
official spot rate was unchanged at Rs 6,400. In the ready business,
approximately 800 bales of new crop cotton from different stations changed
hand within the range of Rs 6400-6500, they said. Phutti from the Punjab was
trading at Rs 2900-3000 and at Rs 2750-2800 per maund in Sindh, they added.
Yarn prices soar again in domestic market
LAHORE (June 24, 2010): Yarn prices are soaring again in domestic market with
short supply from the spinners, leading to continuity of crisis like situation
for the value-added sector. It may be noted that the yarn prices had dwindled
down substantially right after the imposition of 15 percent regulatory duty on
exports of yarn.
Phutti prices up, lint rate firm on cotton market
KARACHI (June 23, 2010): Phutti prices were higher on the cotton market on
Tuesday, ginners were reluctant to finalise any deal on the lower rates,
experts said. The Karachi Cotton Association (KCA) official spot rate was
unchanged at Rs 6,400. In the ready business, 4000 bales of cotton from
Burewala finalised at Rs 6500, they said.
Textile sector of Faisalabad: 'Punjab's division to have
adverse effects'
FAISALABAD (June 23, 2010): There is a serious threat to the textile sector of
Faisalabad if Punjab is divided into more provinces. Presently, the city is
enjoying the status of 5 billion US dollars exports and the yarn market known
in the world as largest in Asia. Punjab is the biggest province of the country
in respect of population, agricultural productivity and value addition to GDP.
New law to ensure international standards in textile industry: DG
ISLAMABAD (June 23, 2010): International standard of textile industry will be
ensured with the introduction of new 'Textile Development and Promotion Bill'.
This was stated by Naseem Qureshi, Director General, Ministry of Textile
Industry, in an exclusive talk with Business Recorder here on Tuesday.
Chairman PRGMEA to visit North Zone on June 24
LAHORE (June 23, 2010): Central Chairman Pakistan Readymade Garments
Manufacturers and Exporters Association (PRGMEA) Mohsin Ayub Mirza would hold
important meeting of North Chapter of the association on Thursday and discuss
the issues of the sector at length. It is first visit of the Central Chairman
PRGMEA of North Zone.
Prices higher on cotton market despite new crop phutti
arrivals
KARACHI (June 22, 2010): Prices were up on the cotton market on Monday as the
ginners were not ready to lower the asking prices despite the steady arrivals
of phutti from different stations of the Punjab and Sindh, experts said. The
Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,400.
In the ready business, over 2000 bales of cotton changed hands between Rs
6300-6800, they said.
Shahzad Ahmed elected Aptma chairman
KARACHI (June 22, 2010): The Executive Committee All Pakistan Textile Mills
Association (Aptma) in its 13th meeting held on Saturday at Aptma Offices in
Karachi, Lahore and Peshawar (over video Conference system) elected Shahzad
Ahmed as the chairman Aptma in place of Anwar Ahmed Tata, who resigned due to
health reasons.
Yarn exports increased by 22 percent during July-May:
Bilwani
KARACHI (June 22, 2010): Surprisingly, exports of yarn from Pakistan during
the period July-2009 to May 2010 is to the tune of 588.3 million tons as
compared to the 11 month-period last year, showing an increase of 22 percent
when 20 percent of the spinning units have closed down, stated M Jawed Bilwani,
Co-ordinator, Value Added Textile Forum and said still the spinners are
'crying wolfs'.
Conditional yarn export, new crop phutti arrival help
improve trading on cotton market
KARACHI (June 21, 2010): Late in the week cotton purchase began by the
spinners and textile millers the activity unexplained whether decision of yarn
exports or receipt of India over two lakh bales were behind the sales. The
spot rate was down twice and last was seen at Rs 6400.
Activity improves on cotton market with new crop phutti
arrival
KARACHI (June 20, 2010): Trading activity improved on the cotton market on
Saturday as new phutti arrivals encouraged the mills to continue forward
buying, experts said. The Karachi Cotton Association (KCA) official spot rate
was unchanged at Rs 6,400. In the ready business nearly 5000 bales of cotton
changed hands between Rs 5300-6700, they said. Phutti from the Punjab was
trading at Rs 2800-3100 and seedcotton in Sindh was trading at Rs 2700-2750
per maund, they said.
'US to help promote opportunities for apparel makers'
ISLAMABAD (June 20, 2010): US Special Representative for Afghanistan and
Pakistan Richard Holbrooke on Saturday said the two sides have discussed
measures to promote business opportunities for Pakistani textile apparel
manufacturers. Addressing a joint press conference with Foreign Minister Shah
Mahmud Qureshi, he said the US would support the holding of a textile
exhibition in New York from 13th to 15th of next month.
International News:-
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New York cotton settles easier on profit-taking
NEW YORK (July 29, 2010): Cotton futures finished easier on Wednesday on
profit-taking after climbing previously to a three-week top with the
market still facing the prospect of tight deliverable supplies, brokers
said. The December cotton contract shed 0.39 cent to close at 76.31
cents per lb, dealing from 76.11 to 77.29 cents.
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New York cotton
NEW YORK (July 29, 2010): Tuesday's closing prices of New York cotton in
US cents/lb.
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New York cotton closes near three-week high
NEW YORK (July 28, 2010): Cotton futures ended near a three-week top
Tuesday as nearby contracts were buoyed by tight deliverable supplies
while back months declined as a result of weak outside markets, brokers
said. The December cotton contract gained 0.21 cent to end at 76.70
cents per lb, moving from 76 to 76.94 cents. It was the loftiest close
for the second position contract since July 8, according to Thomson
Reuters data.
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Cottonseed supply seen up sharply: Oil World
AMSTERDAM (July 28, 2010): Large cottonseed crops in the United States
and Australia are set to increase world supply by about 13 percent in
2010/11 and boost trade and processing of the oilseed, analysts Oil
World said on Tuesday. Oil World said it had raised its 2010/2011
estimate of global cottonseed production to a 3-year high of 44.2
million tonnes, up 5.1 million tonnes from 2009/10.
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New York cotton
NEW YORK (July 28, 2010): Monday's closing prices of New York cotton in
US cents/lb.
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New York cotton closes at two-week high
NEW YORK (July 27, 2010): Cotton futures closed at a fresh two-week top
Monday on follow-through buying as the market successfully raced past
key technical barriers and the momentum may push values higher this
week, brokers said. The December cotton contract increased 1.15 cents or
by 1.52 percent to end at 76.49 cents per lb, moving from 75.34 to 76.53
cents. It was the loftiest close for the second-position contract since
July 8.
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New York cotton futures at two-week high
NEW YORK (July 24, 2010): Cotton futures finished on Friday at a 2-week
high on follow-through buying as scant deliverable cotton supplies
boosted nearby contracts and the advance may spill over into next week,
brokers said. The December cotton contract increased 0.63 cent to end at
75.34 cents per lb, moving from 74.51 to 75.54 cents.
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New York cotton
NEW YORK (July 24, 2010): Thursday's closing prices of New York cotton
in US cents/lb.
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New York cotton up on tight certified stocks
NEW YORK (July 23, 2010): Cotton futures ended higher Thursday on
investor buying as tight deliverable supplies gave nearby months a boost
although players were still fretting over the fragile state of global
economic recovery, brokers said. The December cotton contract increased
0.78 cent to end at 74.71 cents per lb, moving from 73.58 to 74.74
cents. The spot October cotton contract gained 0.80 cent to finish at
79.57 cents.
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New York cotton
NEW YORK (July 23, 2010): Wednesday's closing prices of New York cotton
in US cents/lb.
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New York cotton settles higher
NEW YORK (July 22, 2010): Cotton prices bounced Wednesday as spillover
from outside markets added to buying based on technical chart cues.
Nearby cotton for October delivery settled 0.92 cent, or 1 percent,
higher at 73.93 cents a pound on ICE Futures US.
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New York cotton
NEW YORK (July 22, 2010): Tuesday's closing prices of New York cotton in
US cents/lb.
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New York cotton at 5-1/2 month low
NEW YORK (July 21, 2010): Cotton futures finished Tuesday at a 5-1/2
month low on investor sales as a large US crop and uncertainty over the
state of global economic recovery kept fibre contracts on the defensive,
brokers said. The December cotton contract fell 0.61 cent to settle at
73.01 cents per lb, after dealing between 72.96 and 74.29 cents.
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New York cotton
NEW YORK (July 21, 2010): Monday's closing prices of New York cotton in
US cents/lb.
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New York cotton futures settle lower
NEW YORK (July 20, 2010): Cotton futures ended lower on Monday, after an
early test and failure at the 75-cent level attracted sellers and kept the
market locked in a familiar range, brokers said. The key December cotton
contract shed 0.34 cent to settle at 73.62 cents per lb, after dealing
between 73.25 and 74.98 cents.
World market price for upland cotton
WASHINGTON (July 18, 2010): The US Agriculture Department set the prevailing
world market price for upland cotton at 66.31 cents per lb, effective
through July 22. USDA based program determinations on new crop (forward)
prices. The price is adjusted to US quality and location for Strict Low
Middling, 1-1/16 inch upland cotton. The next announcement for upland cotton
will be on July 22, at 4 pm Eastern time.
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New York cotton ends firmer but in tight band
NEW YORK (July 17, 2010): Cotton futures edged up to a firm close Friday
on investor buying as the market consolidated, and brokers said the next
move depends on outside markets. The key December cotton contract added
0.49 cent to close at 73.96 cents per lb, trading between 73.13 and
74.25 cents. It was an inside day as the contract stayed within
Thursday's 73.06 to 74.29 band. On the week, December was down 1.37
percent from its Friday close at 74.99 cents.
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New York cotton
NEW YORK (July 17, 2010): Thursday's closing prices of New York cotton
in US cents/lb.
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New York cotton settles touch firmer
NEW YORK (July 16, 2010): Cotton futures settled fractionally higher on
Thursday on late investor buying as the market's downward spiral seemed
to have slowed and futures consolidated, brokers said. The key December
cotton contract gained 0.12 cent to close at 73.47 cents per lb, dealing
from 73.06 to 74.29 cents. On Wednesday, the contract ended near a
five-month low at 73.35 cents.
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New York cotton
NEW YORK (July 16, 2010): Wednesday's closing prices of New York cotton
in US cents/lb.
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New York cotton settles near five-month low
NEW YORK (July 15, 2010): Cotton futures finished Wednesday at a fresh
near five-month low on investor sales but the market ran into support at
its session lows from possible consumer buying, brokers said. The key
December cotton contract declined 1.30 cents to end at 73.35 cents per
lb, dealing from 73.21 to 74.82 cents. It was the lowest close for the
contract since February 24, according to Thomson Reuters data.
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New York cotton
NEW YORK (July 15, 2010): Tuesday's closing prices of New York cotton in
US cents/lb.
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New York cotton settles higher
NEW YORK (July 14, 2010): Cotton futures closed higher Tuesday on trade
and investor buying as the market rebounded after sinking in the
previous session to a five-month low, brokers said. The rebound was
aided by firmer outside markets and trade belief that demand for the
fibre will be there despite a large US cotton crop in the 2010/11
marketing year (August/July).
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New York cotton
NEW YORK (July 14, 2010): Monday's closing prices of New York cotton in
US cents/lb.
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New York cotton at five-month low
NEW YORK (July 13, 2010): Cotton futures finished on Monday at a fresh
5-month low on investor liquidation due to a large US cotton crop and
brokers believe doubts over economic recovery will weigh on fibre contracts
in the coming days. The key December cotton contract dropped 1.20 cents to
close at 73.79 cents per lb, trading from 73.56 to 74.95 cents.
New York cotton up and may push higher next week
NEW YORK (July 10, 2010): Cotton futures ended higher Friday on trade and
investor buying as the market seems to have shrugged off for now a bearish
government crop report, brokers said. The key December cotton contract rose
1.00 cent to close at 74.99 cents per lb, trading from 73.61 to 75.38 cents.
On the week, the contract was down 0.71 percent from last Friday's close of
75.53 cents.
New York cotton
NEW YORK (July 10, 2010): Thursday's closing prices of New York cotton in US
cents/lb.
New York cotton futures settle easier
NEW YORK (July 09, 2010): Cotton futures settled easier Thursday on modest
investor sales as participants tweaked their positions before release of a
government crop report tomorrow, brokers said. The key December cotton
contract fell 0.57 cent to close at 73.99 cents per lb, trading from 73.60 to
75.20 cents.
New York cotton
NEW YORK (July 09, 2010): Wednesday's closing prices of New York cotton in US
cents/lb.
New York cotton settler higher
NEW YORK (July 08, 2010): Cotton futures finished higher Wednesday on investor
buying to lift the market from a 5-month low as players looked toward release
of a government crop report at the end of the week, brokers said. The key
December cotton contract added 0.24 cent to close at 74.56 cents per lb,
trading from 73.55 to 75.01 cents.
New York cotton
NEW YORK (July 08, 2010): Tuesday's closing prices of New York cotton in US
cents/lb.
New York cotton ends at five-month low
NEW YORK (July 07, 2010): Cotton futures ended Tuesday at a 5-month low on
investor sales as fears over the economy and violation of a technical
support level may lead to further losses in cotton after a holiday weekend,
brokers said. The cotton market was shut Monday in observance of US
Independence Day.
Global cotton output to jump 14 percent
WASHINGTON (July 04, 2010): Farmers will boost global cotton production
in 2010/11 as they move from less profitable grains and oilseeds and increase
cotton plantings, an
international farm group said on Thursday. The International
Cotton Advisory Committee secretariat said in a monthly report cotton prices
jumped 28 percent in 2009/10 to the highest level in 13 years as stocks
dwindled.
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New York cotton settles lower
NEW YORK (July 03, 2010): Cotton futures closed on Friday near a month
low on investor sales and analysts said the market is close to a
technical level it must hold to prevent further losses after a holiday
weekend. The cotton market will be shut Monday in observance of US
Independence Day. Trading resumes on Tuesday. The key December cotton
contract dropped 0.92 cent, or 1.2 percent, to finish at 75.53 cents per
lb, the lowest finish in nearly a month, according to Thomson Reuters
data.
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New York cotton
NEW YORK (July 03, 2010): Thursday's closing prices of New York cotton
in US cents/lb.
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New York cotton ends tad higher
NEW YORK (July 02, 2010): Cotton futures settled slightly higher on Thursday,
rebounding from the previous session's three-week low that was hit after a
government plantings estimate suggested the biggest US cotton crop in three
years. The key December cotton contract gained 0.07 cent to close at 76.45
cents per lb, trading in a range from 75.17 to 77.26 cents.
New York cotton
NEW YORK (July 02, 2010): Wednesday's closing prices of New York cotton in US
cents/lb.
New York cotton at fresh three-week low
NEW YORK (July 01, 2010): Cotton futures settled at a fresh three-week low
Wednesday on investor sales as the market reeled from a government plantings
estimate that would lead to the biggest US cotton crop in three years, brokers
said. The key December cotton contract fell 1.75 cents to close at 76.38 cents
per lb, the lowest settlement price on the benchmark third position cotton
contract since June 8.
US 2010 cotton sowings at four-year high
NEW YORK (July 01, 2010): Cotton sowings in the US hit a four-year high in
2010 and the cotton crop of the world's largest fiber exporter should be up
sharply in the 2010/11 season, analysts said Wednesday. The US Agriculture
Department's annual planted acreage report pegged US 2010 cotton sowings at
10.909 million acres, the highest since the country planted 15.274 million
acres in 2006.
New York cotton
NEW YORK (July 01, 2010): Tuesday's closing prices of New York cotton in US
cents/lb.
New York cotton futures at three-week low
NEW YORK (June 30, 2010): Cotton futures settled at a three-week low Tuesday
on investor sales sparked by news of a more downbeat assessment of economic
growth for No 1 cotton consumer China and weakness in the commodity complex.
The key December cotton contract fell 0.32 cent to conclude at 78.13 cents per
lb, the lowest settlement price on the third position cotton contract since
June 9.
New York cotton
NEW YORK (June 30, 2010): Tuesday's closing prices of New York cotton in US
cents/lb.
New York cotton settles quietly lower
NEW YORK (June 29, 2010): Cotton futures settled lower Monday on very light
investor sales as players tweaked positions before the release this week of a
key government plantings report, brokers said. Benchmark December cotton eased
0.46 cent to end at 78.45 cents per lb, dealing from 77.67 to 79.30 cents.
US cotton plantings seen at three-year high
NEW YORK (June 29, 2010): Cotton plantings in the United States in 2010 will
rise to their loftiest level in three years as high prices and ideal growing
weather boost sowings, industry analysts predicted Monday. A Reuters poll of
industry participants forecast 2010 cotton plantings would hit around 10.85
million acres, up 19.84 percent from the 9.054 million planted in 2009, which
was a 25-year low.
World market price for upland cotton
WASHINGTON (June 27, 2010): The US Agriculture Department set the prevailing
world market price for upland cotton at 77.84 cents per lb, effective through
July 1. The price is adjusted to US quality and location for Strict Low
Middling, 1-1/16 inch upland cotton.
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New York cotton edges up in quiet session
NEW YORK (June 26, 2010): Cotton futures crept to a firmer close Friday
on light investor buying as the market dawdled ahead of next week's
release of a key government plantings report, brokers said. The key
December cotton contract gained 0.19 cent to end at 78.91 cents per lb,
dealing from 78.34 to 79.20 cents.
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New York cotton
NEW YORK (June 26, 2010): Thursday's closing prices of New York cotton
in US cents/lb.
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New York cotton futures end lower
NEW YORK (June 24, 2010): Cotton futures finished largely lower as players
unwound positions in the spot July contract as it approached delivery later on
Wednesday, brokers said. The key December cotton contract dropped 1.05 cents
to conclude at 78.16 cents per lb, dealing from 77.48 to 79.57 cents. Volume
traded in the December contract stood at 11,454 lots at 2:34 pm EDT (1834
GMT). Spot July increased 1.99 cents to end at 84.45 cents. Except for one
contract, back months were down 0.73 to 1.18 cents.
New York cotton
NEW YORK (June 24, 2010): Tuesday's closing prices of New York cotton in US
cents/lb.
New York cotton settles higher
NEW YORK (June 23, 2010): Cotton futures finished higher Tuesday on modest
investor buying as the market braced for deliveries in the July contract on
Thursday, brokers said. The key December cotton contract added 0.04 cent to
finish at 79.21 cents per lb, dealing from 78.54 to 79.43 cents. It was an
inside day since the range was within Monday's 78.37 to 79.57 cents band.
New York cotton
NEW YORK (June 23, 2010): Monday's closing prices of New York cotton in US
cents/lb.
New York cotton settles firmer
NEW YORK (June 22, 2010): Cotton futures closed firmer Monday in a choppy
session as the focus was on deliveries in the July contract while news on
China's plans for its yuan currency was digested by market players, analysts
said. The key December cotton contract added 0.22 cent to finish at 79.17
cents per lb, dealing from 78.37 to 79.57 cents.
Jil Sander says full recovery
could be years out
FLORENCE (June 20, 2010): Fashion house Jil Sander Group does
not see a full recovery in Europe and the United States before 2014, as
markets instability drags on luxury spending, its head told Reuters.
Cotton Future.
Market Prices:-
End of Day Prices
Intra-Day Prices
AWP, Step2 & Step3
Spot Quotes
Source
www.brecorder.com
Updated at :07/29/2010 10:08:56 AM +0500 |
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