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Demand for lint hikes cotton prices

Demand for lint hikes cotton prices

KARACHI: Shortage in phutti (seed cotton) supply and hike in demand for quality lint have increased prices in cotton market.

However, premium quality lint fetched higher price with most of the deals finalised above Rs5,600 per maund. The highest bid was quoted at Rs5,700per maund.

The world cotton markets, including of New York cotton and China, remained easy in the absence of demand. However, Indian market was steady due to demand for cotton from Pakistani spinners.

The KCA spot rates remained unchanged at overnight level. Major deals on ready counter were: 1,000 bales from Shahdadpur done at Rs4,175, 1,600 bales Rohri at Rs5,500 to Rs5,550, 1,000 bales Khanpur Maher at Rs5,600, 1,000 bales Mirpur Mathelo at Rs5,600, 1,000 bales Ghotki at Rs5,600, 600 bales Bahawalpur at Rs5,325, 600 bales Yazman Mandi at Rs5,325 to Rs5,700, 800 bales Haroonabad at Rs5,500 to Rs5,550, 600 bales Jalalpur at Rs5,550, 600 bales Khanpur at Rs5,600 to Rs5,650, 1,000 bales Rahimyar Khan at Rs5,600 to Rs5,700.