KARACHI: Modest trading and constant demand for quality lint have kept the rates unchanged at Rs5000 in cotton market.
The dealers said that in the ready session, over 4,000 bales of cotton changed hands between Rs 4625 and Rs 5275, they said, adding that the prices 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.
Though ginners generally looked reluctant to dispose of their stocks of quality lint but some spinners were equally cautious to enter into fresh deals due to developing economic scenario in the world market.
However, prices generally remained steady amid slow trading which was attributed to slow demand and partly lack of interest of ginners to sell at this stage. The Karachi Cotton Association (KCA) spot rates remained unchanged at previous level.
The following deals were reported to have changed hands on ready counter: 800 bales from station Bahawalpur at Rs4,625 to Rs4,640, 600 bales from Khanewal at Rs4,700 to Rs5257, 800 bales from Vehari at Rs4,700 to Rs5,250, 600 bales from Maroot done at Rs4625, 400 bales from Fort Abbas at Rs5050, 400 bales from Hasilpur at Rs5,075 and 600 bales from Sadiqabad at Rs5200 to Rs5,275.
