KARACHI: Short supply of high quality cotton is keeping business activity restricted while the cotton market was steady amid selective buying for quality lint as most of the deals on ready counter were finalised above Rs5,000 per maund.
Ginners on their part are reluctant to dispose of their stocks hoping to get higher price in the coming days, as per brokers. They added though the prices on world cotton market have declined considerably, they still do not mach import parity.
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The Karachi Cotton Association’s (KCA) spot rates were steady at previous level. Major deals included: 400 bales from Sanghar done at Rs4400, 200 bales Shahdadpur at Rs4600, 200 bales Tando Ghulam Ali at Rs4900, 1600 bales Pano Aqil at Rs5100, 400 bales Maroot at Rs4950, 600 bales Haroonabad at Rs4950, 500 bales Burewala at Rs5100, 600 bales Shah Jamal at Rs5160, 400 bales Mian Channu at Rs5200, 568 bales Sadiqabad at Rs5200.
