At Pakistan cotton market, leading buyers were seen making deals to meet their immediate requirement of lint on back of grade issue and in anticipation of decline in spot rate. Spinners in Sindh and Punjab stations bought fine grades on competitive price at around Rs 5,575 per maund to Rs 5,600 per maund while general buyers made deals for all grades in Punjab and Sindh stations at around Rs 4,975 per maund to Rs 5,200 per maund, traders said on Friday.
During the trading session, buyers in Sindh and Punjab stations made deals for all grades while sellers offered all grades of lint on bargaining rates at around Rs 4,975 per maund to Rs 5,575 per maund in order to capitalize maximum returns on their proceeds.
KCA kept the spot rate intact at Rs 5,400 per maund in order to provide support to weak holders of raw grade to ward off minimal price level, said floor brokers.
Due to grade issue in parts of Sindh and Punjab stations buyers also made forward deals for all grades of lint at around Rs 4,975 per maund to Rs 5,325 per maund. More than 200 bales changed hands with more than 65 percent of Punjab’s share in trading.
According to Shakeel Ahmad a fibre analyst, the textile products export units are facing shortage of fine grades, that would put positive impact on prices besides its market valuation. The growers are busy in scouting the standing crop and weather in cotton growing belt in Punjab and Sindh remained suitable.
The shortage of energy to ginning and textile sectors was still endangering growers’ selling volumes.
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