Karachi Cotton Association fails to issue cotton spot rates after 52 years |
LAHORE: A wave of concern swept through Pakistan’s cotton sector after the Karachi Cotton Association (KCA) failed to issue the daily cotton spot rate for the first time in 52 years, disrupting bank financing to ginners and textile mills and suspending Pakistan’s representation of daily cotton prices in international markets.
The sudden action has triggered serious concerns among cotton stakeholders in Pakistan and abroad. The KCA building has long been regarded as a symbol of Pakistan’s organised cotton........