According to the recently given numbers by the market experts, the cotton trading activities will remain slow for the next few months. At the time when the Pakistani cotton ginners are facing a shortage of cotton in their stocks, the prediction of slow processing is something really acceptable. Yesterday, there was a slow trading recorded at the Karachi stock exchange. The spot rates stood firm at Rs6,750/maund (37.324kg) and Rs7,234/40kg. Ex-Karachi rates also remained unchanged at Rs6,885/maund and Rs7,379/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
Only two transactions were recorded in the cotton market. The two figured as 1,400 bales at Rs6,900 to Rs6,970/maund. Sadiqabad’s 1,000 bales were sold at Rs6,900/maund, while 400 bales of Noorpur Noranga exchanged hands at Rs6,970/maund. The cotton and fiber trading, specifically in Punjab and Sindh province of Pakistan, remain highly selective on the grade issues and will a really high demand of lint while volumes of second-grade lint traded remained on the higher side.
KCA kept the spot rate at Rs 6,750 per maund in order to provide support to raw grade sellers for getting better prices, floor brokers said. The mills and spinners made deals for better grades of lint at around Rs 6,625 per maund to Rs 6,675 per maund while Mills bought the second grade of lint for immediate use at around Rs 6,575 per maund, floor brokers said.
Secondary buyers made deals for all grades on competitive prices at around Rs 5,975 per maund to Rs 6,125 per maund while buyers with less liquidity made deals in all grades in Punjab stations at around Rs 5,975 per maund.
