Related Keywords: cotton bales, fresh buying of cotton, official spot rate, Pakistan cotton market, rise in price of fine quality cotton, seed cotton prices, surging demand by mills and spinners
Pakistan cotton market with surging demand by mills and spinners on Wednesday witnessed prices of fine quality moving up. The official spot rate was also up by Rs 50 to Rs 4,600, dealers said. Seed cotton prices in Sindh were at Rs 2400 and Rs 2450 and in Punjab rates were at Rs 2300 and Rs 2450.
In the ready business, around 20,000 bales of cotton changed hands between Rs 4650 and Rs 4750.
According to market viewers, mills and spinners indulged in fresh buying of cotton to cover their short-term needs.
