Costs may increment on the cotton showcase on Monday taking after the new rains in south Punjab, merchants said. The authority spot rate fell humbly by Rs 50 to Rs 5150, merchants said. In the prepared session, around 6,000 bunches of cotton changed hands between Rs 3900 and Rs 5300, they said.
The costs of seed cotton in Sindh were at Rs 1800 and Rs 2400 and in Punjab rates moved as substandard sort picked up Rs 200 to Rs 2200 and the best sort got Rs 100 to Rs 2900, they said.
As indicated by the business sector sources, the spinners were dynamic yet the ginners were hesitant venders as they were not eager to offer the unsold stock, especially fine sort, at the present level.
Cotton examiner, Naseem Usman said that the ginners were not in a state of mind to oblige plants or ginners taking after the downpours in south Punjab, which may postpone cotton sowing, and may push rates higher in the short-terms.
The accompanying arrangements reported: 1000 bundles of cotton from Mirpurkhas at Rs 3900, 1200 bunches from Sanghar at the same rate, 200 parcels from Haroonabad at Rs 5050, same number from Faqirwali at Rs 5250, 400 bunches from Chichawatni at Rs 5300 and 2600 parcels from Sadiqabad at the same rate, they included.
Source: Business Recorder