Supported interest for quality build up, helped the rates on the cotton market on Monday during the time spent unassuming exchanging, merchants said. The authority spot rate was unaltered at Rs 5000, merchants said. In the prepared session, more than 4,000 parcels of cotton changed hands between Rs 4625 and Rs 5275, they said. The costs of seed cotton in Sindh were at Rs 1900 and Rs 2350 and in Punjab rates were at Rs 2000 and Rs 2650, they said.
Market sources said that thin business movement was seen as plants and spinners continued the sideline owing to tight supply of best quality. Cotton specialists, Naseem Usman said that falling pattern on the planet oil costs and immovability of dollar may help enhancing the interest by the importing nations.
The ginners who have insufficient unsold stock were attempting to build rates in front of the Pakistan Cotton Ginners Association (PCGA) fortnightly entries figure. The accompanying arrangements reported: 800 bunches of cotton from Bahawalpur at Rs 4625-4640, 600 parcels from Khanewal at Rs 4700-5275, 800 bundles from Vehari at Rs 4700-5250, 600 bunches from Maroot at Rs 4625, 400 parcels from Fort Abbas at Rs 5050, same figure from Hasilpur at Rs 5075 and 600 parcels from Sadiqabad at Rs 5200-5275, they included.
Source: Business Recorder