The stable cotton prices in Pakistan are demanding for better grades. In the recent trading sessions, the cotton prices remained firm in Pakistan. About 900 bales of cotton changed hands. The Karachi Cotton Association (KCA) spot rate remained unchanged at Rs 6,300 per maund.
According to the trades, the buyers made deals for all qualities offered by ginners during the trading session. Deals changed hands at around Rs6,000 per maund to Rs6,650 per maund. Said the Pakistani traders is that; the mills remained quality conscious and made selective deals on slightly higher prices during the session while the leading ginners sensing future demand of quality lint offered few stocks on higher prices to the buyers.
Senior trader, Mr. Ghulam Rabbani, said that the domestic buyers were buying better grades on a bit higher price as they bought around 200 bales at Rs6,775 per maund during the session. Expected is that the buyers will remain eager for the quality lint and a slight increase in the price based on the increasing demands of yarn and cloth.
Previously it was expected that the buyers will import about 20,000 bales of high-quality cotton to meet the domestic needs. However, now some positive expectations are on their way to the textile market of Pakistan. The traders are expecting some good news from the Chinese corridors in terms of when they will reach Pakistani market for lint to meet their needs.
According to a senior Pakistani broker, the Punjab based ginners are offering good quality cotton to the buyers at about, Rs 775 per maund, while that of Sindh based ginners offered the raw grade of lint to buyers around Rs5,975 per maund, depending on thrash level.
