Lint prices stayed firm on the cotton market on Monday amid cautious selling by ginners, dealers said. The official spot rate was unchanged at Rs 8,800, they added. Prices of seed cotton in Sindh were at Rs 3000-4000, in the Punjab seed cotton prices were at Rs 3300-4000 and in Baluchistan, rates of seed cotton were at Rs 3600-4000.
In the ready session over 18,000 bales of cotton changed hands between Rs 8300 and Rs 9100. According to the market sources, prices were steady following the reports that recent rains in cotton belt may affect picking operation in the near future. Besides, ginners were not very much interested in doing new deals, hoping for increase in rates in the coming days. Cotton analyst Mr Naseem Usman observed that cotton yarn demand is not improving, which is causing financial losses. In the world markers, cotton prices were almost mixed.
The following deals reported: 200 bales of cotton from Kotri at Rs 8300, 1600 bales from Khairpur Mirus at Rs 8500/8650, 1400 bales from Saleh Pat at Rs 8650/8750, 1600 bales from Ghotki at Rs 9000/9100, 1000 bales from Mirpur Mathilo at Rs 9000, 1000 bales from Dherki at Rs 9000/9100, 400 bales from Khanpur Mehar at Rs 9000, 400 bales from Pano Aqil at Rs 9100, 2000 bales from Rahim Yar Khan at Rs 9000/9100, 1600 bales from Sadiqabad at Rs 9000, 1000 bales from Rajanpur at Rs 9000, 1000 bales from Fazilpur at Rs 9000, 400 bales from M. P. Dewan at Rs 9000, 1600 bales from Khanewal at Rs 8300/8350, 1400 bales from Hasilpur at Rs 8300, 600 bales from Fort Abbas at Rs 8300 and 1200 bales from Bahawal Nagar at Rs 8300.
