Pakistani cotton market with improved trading activity
Cotton market in Pakistan with improved trading activity due to renewed buying on Tuesday, dealers said. The official spot rate remained still at Rupees 6250. As per the market sources, the spinners were seen indulged in fresh buying to replenish their stock
In Sindh, seed cotton prices were at Rupees 2600-3300, while in Punjab, phutti rates remained at Rupees 2800 and Rupees 3550, as per 40 kg, dealers added.
According to cotton analyst, Naseem Usman, prices of quality lint may maintain stable in the near future.
The following deals were reported to have changed hands as per dealers: 600 bales from Shahpur Chakar at Rupees 5950, 600 bales from Sarhari at Rupees 5975, 1000 bales from Jam Sahab at Rupees 6000, 2000 bales from Nawabshah at Rupees 6025/6050, 600 bales from New Saeedabad at Rupees 6050, 800 bales from Sakrand at Rupees 6000, 1200 bales from Rohri at Rupees 6260/6400, 2000 bales from Salehpat at Rupees 6300/6350, 800 bales from Ghotki at Rupees 6500, 600 bales from Dharki at Rupees 6500, 3000 bales from Mianwali at Rupeess 5950/6000, 600 bales from Mianchano at Rupees 6000, 1000 bales from Layyah at Rupees 6000/6275, 400 bales from Chistian at Rupees 6350, 1200 bales from Bahawalpur at Rupees 6350, 2000 bales from Haroonabad at Rupees 6300/6350, 1400 bales from Fort Abbas at Rs 6350, 1600 bales from Rahim Yar Khan at Rupees 6500/6550, 400 bales from Shujabad at Rupees 6575, 1400 bales from Sadiqabad at Rupees 6600 and 1200 bales from Hasilpur at Rupees 6600.
In the ready session, over 25000 bales of cotton changed hands between Rupees 5950 and Rupees 6600.