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Related Keywords: 7 lakh cotton bales, anticipating rise in price, Cotton market, cotton prices scales, fast dwindling stock, Ginners, holding back stock, KCA, quality lint, ready market rates, rising demand, seasons new peak, spot rate, trading activity remain moderate

At the cotton market in the backdrop of fast dwindling stocks of quality lint amid rising demand, cotton prices scales to season’s new peak of Rs7,800 per maund on Friday. On the other end, ginners were holding back their stocks anticipating further rise in prices due to which trading activity remained moderate.

However, a big deal of 10,300 bales from Khanpur was finalised between a ginner and spinner at season’s high Rs7,800 per maund late in the evening. Another deal of 400 bales from Dherki was done at Rs7,700 per maund.

Related Keywords: cotton prices moving higher, deprive the industry of raw material, fast dwindling stock, KCA, Pakistan cotton market, spinner unable to get quality lint, spot rate, touch new high level, world cotton market

Cotton prices moving further higher to touch a new high level on Thursday due to fast dwindling cotton stocks in the Pakistan cotton market. Many needy spinners continued to look for quality lint, but mostly disappointed.

The textile industry is not only expressing concern over the rapidly falling cotton stocks but also for many export-oriented spinning units who have to meet their foreign commitments are unable to get quality lint.

The fear of long delay in the arrival of next crop, which will not reach ginneries before the end of July, is being feared by textile industry.