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Related Keywords: cotton bales, cotton market on Thursday, depressed local market, domestic market, falling world cotton prices, ginners keen to enter into deals, grey cloth, insipid conditions continue, KCA, KCE, kept spinners away from trading ring, little buying interest, Sluggish off-take of cotton yarn, spot rate

The sluggish off-take of cotton yarn and grey cloth in the domestic market has kept spinners away from the trading ring. With little buying interest, insipid conditions continue at the cotton market on Thursday. Though ginners were keen to enter into deals but falling world cotton prices have further depressed the local market.

Related Keywords: 000 per maund, build up inventories, buyers seen chasing quality cotton, cotton bales, cotton market on Thursday, intense demand, official spot rates increased, prices on ready counter, pushed cotton prices u, Renewed buying interest, seasonal peak level, Spinners, Textile Industry, touched Rs7

At cotton market on Thursday buyers seen chasing quality cotton in order to build up their inventories. This renewed buying interest pushed the cotton prices up to the seasonal peak level of Rs.7,000 per maund. Due to intense demand, prices on ready counter touched Rs7,000 per maund while official spot rates were increased by Rs100 to Rs6,600 per maund.

Short supply and fears of crop failure kept buyers panicky. There was strong demand but most deals could not be finalised owing to quality constraints.

Related Keywords: cotton market on Thursday, cotton policy, Karachi Cotton Association, limited stocks with ginners, Only small lot deals changed hands, owing to dwindling stocks, protected cotton growing areas, Shortage of quality cotton, Slow trading witnessed, spot rates were reduced by rupees fifty

Slow trading witnessed at cotton market on Thursday owing to dwindling stocks in the country and shortage of quality cotton. The Karachi Cotton Association’s spot rates were reduced by Rs50 to Rs6,750 per maund (around 37 kilograms).

Only small-lot deals were reported to have changed hands as spinners kept looking for quality cotton but mostly failed due to limited stocks with ginners.

Meanwhile, ginners fear that the next crop could also be short if the government did not come up with a cotton policy and protected cotton-growing areas which are shifting to sugar cane.

Related Keywords: availability of little stocks, cotton bales, cotton market on Thursday, Ginners, ginners willing to offload lint, increased fifty per maund, Karachi cotton exchange, Normal trading witnessed, not ready to sell at lower rates, spot rates

Normal trading was witnessed at cotton market on Thursday despite availability of little stocks with the ginners. While, the spot rates at the Karachi Cotton Exchange increased Rs50/maund.

The spot rates increased to Rs6,800/maund (37.324kg) and Rs7,288/40kg. Ex-Karachi rates also rose to Rs6,935/maund and Rs7,433/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

According to an analyst, normal trading was recorded despite as there are talks of new crop, ginners are willing to offload their lint, but they are not ready to sell at lower rates.