Incline business was seen on the cotton showcase on Monday as ginners were not keen on new arrangements, foreseeing higher costs in the advancing days, merchants said. The official spot rate was unaltered at Rs 5450, merchants said. In the prepared session, more than 3000 bundles were accounted for between Rs 5400 and R 5600. Seed cotton rates in Sindh were unaltered at Rs 2000-2600 and in Punjab costs enlisted at Rs 2400-3100.
As indicated by the business sources, little arrangements were invited by the ginners yet they shunned going into enormous arrangements attributable to constrained cotton stock. Cotton investigator, Naseem Usman said that short supply and unwillingness from ginners kept procedures moderate. The accompanying arrangements reported: 254 parcels of cotton from Kandiyaro at Rs 5400 and 2600 bundles of cotton from Sadiqabad at Rs 5600.
Source: Business Recorder