KARACHI: The continued demand for quality lint and decreasing cotton stocks have caused hike in the commodity’s prices.
According to the dealer, the ginners are still reluctant to dispose of their stocks in anticipation of getting even higher prices. The textile industry as a whole is presently perturbed over dwindling cotton stocks and expected delay in the arrival of next crop due to late sowing of new crop (2015-16), they said.
The seed cotton (phutti) rates in Sindh remained between Rs1,900 and Rs2,500 per 40kg, while in the Punjab the seed cotton rates, reportedly ranged from Rs 2,200 to Rs 4,000 per 40kg.
In the ready market for lint on Thursday, Sindh styles prices were said to have ranged higher from Rs4,200 to Rs 5,500 per maund (37.32 kgs), while in the Punjab the prices likewise ranged higher by Rs4,900 to Rs 5,500 per maund, as per quality.
On the ready counter, the following deals were finalised: 400 bales from Kot Lalo done at Rs4600, 400 bales Mirpurkhas at Rs4800, 200 bales Kasoowal at Rs5150 to Rs5300, 400 bales Ahmedpur at Rs5275, 200 bales Multan at Rs5300, 200 bales Jalalpur at Rs5400, 200 bales Vehari at Rs5500, 600 bales Chichawatni at Rs5550, 1000 bales Rahimyar Khan at Rs5500 to Rs5600 and 400 bales Khanpur at Rs5600.
