KARACHI: The cotton prices remained firm on Monday despite slow buying activity as millers and exporters are waiting fortnightly data of phutti (seed cotton) arrivals.
Price of cotton recovered by Rs100 per maund (37.324 kilograms) to Rs5,010 per maund at the local markets. The Karachi Cotton Association (KCA); however, kept its official spot rate unchanged on the second working day at Rs4,900 per maund.
Traders bought 4,700 bales (155 kilograms) at Rs4,500 to Rs5,150 per maund, the KCA reported. The broker said trade activities would remain dull till the new crop comes in June-July, as this is off-season for the commodity production in the country.
The following deals were reported to have changed hands on the ready counter: 200 bales, Vehari at Rs4,500, 400 bales, Faqir Wali at Rs4,750, 400 bales, Jalalpur at Rs4,750, 1,000 bales Ahmedpur at Rs4,950 to Rs5,000, 1200 bales, Sadiqabad at Rs5,050 to Rs5,100, 500 bales, Mianwali at Rs5,100 and 1,000 bales, Rahimyar Khan at Rs5,100 to Rs5,150.
