KARACHI: The cotton price remained unchanged in market due to constant buying trend and shortage of quality lint.
According to the floor brokers, the spinners are jittery as the current cotton season is coming to an end and the arrival of new crop is likely to be delayed, until end-July or early August. The Karachi Cotton Association (KCA) spot rates were also steady at overnight level.
The official spot rate was unchanged at Rs5350, dealers said. Over 4,000 bales of cotton sold between Rs4000 and Rs5600, they said. The prices of seed cotton in Sindh were at Rs 1900 and Rs 2500 and in Punjab rates were at Rs 2200 and Rs 3000.
The following deals reported: 400 bales of cotton from Kotri at Rs 5300, 600 bales from Pak Pattan (low quality) done at Rs 4000, 200 bales from Lodhran at Rs 5150, 300 bales from Chichawatni at Rs 5200, 400 bales from Chistian at the same rate, same figure from Bahawalpur at Rs 5300, same figure from Dera Gazi Khan at Rs 5350, 600 bales from HasilPur at Rs 5400, 500 bales from Qaboola at Rs 5500 and 200 bales from Kassowal at Rs 5600.
