KARACHI: The prices of cotton remained steady on the cotton market. Most of the spinners and exporters tried to replenish their stocks with quality lint.
Though ginners’ body report on cotton production has been encouraging, higher consumption of cotton by the textile industry is resulting in shortage of quality lint which is causing frustration among spinners, brokers said.
Consequently, even falling prices in the world market including New York cotton and Chinese markets could not impact domestic market where prices re¬¬mained steady. Most deals on the ready counter were finalised above Rs5,000 per maund.
The Karachi Cotton Association’s (KCA) spot rates remained unchanged as given below,
600 bales from Jhole done at Rs4,200 to Rs4,300, 400 bales Chichawatni at Rs4,875, 600 bale Faqirwali at Rs4,885, 400 bales Sahiwal at Rs4,900, 2,600 bales Hasilpur at Rs4,900 to Rs5,000, 600 bales Chani Goth at Rs5,100, 700 bales Alipur at Rs5,150, 800 bales Dera Ghazi Khan at Rs5,200, 600 bales Sadiqa¬bad at Rs5,200, 1,000 bales Rahimyar Khan at Rs5,200 and 600 bales Mianwali at Rs5,200 to Rs5,250.
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