KARACHI: Energy and petrol crisis have also gripped cotton market and buyers and sellers took to the sidelines as a result prices also moved lower.
The world cotton markets also remained easy barring the New York cotton futures which recorded modest gains after witnessing losses the previous day.The Karachi Cotton Association (KCA) kept its spot rates unchanged.
Majority of leading buyers and sellers remained quality conscious, however deals changed hands for all grades on competitive price in Sindh and Punjab stations at around Rs 4,950 per maund to Rs 4,975 per maund while production of the lint in the ginneries of Sindh and Punjab remained moderate at around 900 bales
The following deals were reported to have changed hands on the ready counter: 400 bales, Mehrabpur at Rs4650, 400 bales, Faqirwali at Rs4,850, 600 bales, Yazman Mandi at Rs4,850, 400 bales, Layyah at Rs4,850, 800 bales, Mianwali at Rs4,850, 1,000 bales Feroza, at Rs5,135, 400 bales, Alipur, at Rs5,150, 1,000 bales, Jalalpur at Rs5,150 and 800 bales, Shadan Lund at Rs5,150.
The following are Friday’s new crop Karachi Cotton Association (KCA) official spot rates for local dealings in Pak rupees for base grade 3 staple length 1-1/32” micronair value between 3.8 to 4.9 NCL.
