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Cotton market found in line with global trend

Related Keywords: assured delegation of All Pakistan Textile Mills Association, better prices in future, cotton bales, Cotton market, Cotton yarn market, cut gas tariff, ginners reluctant to sell stock, in line with global trend, KCA, millers holding quality cotton, spinning units, spot rate, Sui Northern Gas Company, Trading ring in Pakistan

Talks in the trading ring in Pakistan have confirmed that in a recent meeting the Sui Northern Gas Company has assured a delegation of All Pakistan Textile Mills Association (Aptma) to cut gas tariff by 28 per cent.

There were some big-lot deals of buying and selling from many millers who tried to get hold of quality cotton, but ginners were generally reluctant to sell their stock in the hope of getting better prices in future.

Cotton prices remained firm despite demand from spinners

Related Keywords: cotton production, delay in arrival of next crop, demand for quality lint, from spinners, ginners reluctant to sell stock, KCA, Pakistan cotton market, prices remained firm, spot price reduced, trading slow

Despite demand for quality lint from spinners, trading was slow as ginners were reluctant to sell their stocks at this juncture which kept prices firm on the cotton market on Thursday. Expected delay in the arrival of next crop is another reason which is keeping prices higher, brokers said.

Floor brokers said that the final phutti (seed cotton) arrival figures expected to be released next month could place total cotton production for the current season at around 14.9 million bales.

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