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As the day progressed trading activity kept rising on strong demand and flow of buying orders from spinners and exporters kept cotton prices firm on Wednesday. Pakistan is expected to be one of the few countries in the world where cotton consumption would rise this year.

Cotton picking has started in most cotton producing districts of Punjab while many ginning units have also stated their operations. In coming days there is a possibility that higher arrival of phutti (seed cotton) could put cotton prices under pressure.

Related Keywords: activity remained dull, cotton consumption, Cotton prices remained steady, ginning units, Interna¬tional Cotton Advisory Committee, KCA spot rates remained firm, resumed on Tuesday after Eidul Azha holidays, seed cotton arrival, thin attendance of traders, Trading on the cotton market

Trading on the cotton market resumed on Tuesday after Eidul Azha holidays, however activity remained dull due to thin attendance of traders. The KCA spot rates remained firm at pre-Eidul Azha level.

However, cotton prices remained steady as there was demand and according to brokers around 4,000 to 5,000 bales were finalised at the rate ranging from Rs6,000 to Rs6,075 per maund.

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At the cotton market, buyers preferred maintaining their inventories by making deals for better grades on slightly higher price. However leading buyers struck down forward deals for a month period in anticipation of any possible increase in better stuff prices, fibre traders said.

According to senior trader, Ghulam Rabbani, sellers withholding better grades of lint remained in driving seat as buyers were in need of fine grades.
The buying for second grade stuff remained in limelight and deals concluded at around Rs 6,575 per maund to Rs 6,600 per maund.

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At the lint market focus remained on fine lint keep trading activity range-bound, and the Karachi Cotton Association (KCA) spot rate remained unchanged at Rs5,3000 per maund. During the trading session, buyers made forward deals for quality lint for a month period on slightly higher prices at around Rs 5,650 per maund, said floor brokers. Around 300 bales changed hands.

Related Keywords: buyers reluctant to make sizeable deal, cotton bales, ginning units, KCA, Lint market, on grade issue, remained lean, Spinners, spot rate, textile sector, though price low, trading activity

Trading activity remained lean as buyers were reluctant to make any sizeable deal though price was low at the lint market on grade issue, floor brokers said. Some spinners finalized deals of fine type to meet immediate need and around 200 bales changed hands.

The Karachi Cotton Association (KCA) spot rate remained firm at Rs 5,300 per maund. The volumes were slow with traders purchased just 200 cotton bales in the ready market of Sindh and Punjab at Rs 4,950 per maund to Rs 5,450 per maund.

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During the trading session, many buyers made deals in fine grade to strengthen their long positions in the lint market that kept physical prices firm. Trader at the Karachi Cotton Association (KCA) also said that some leading buyers made a month period forward deals for all grades on Saturday.

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Majority of buyers remained busy dealing in fine lint grades as trading remained range bound in cotton market. They made deals for immediate use and fine grades sellers were in driving seat due to paucity of stuff while KCA remained busy taking steps to provide maximum benefit to the weak stakeholders to capitalize maximum on their stuff, floor brokers said on Thursday.

Related Keywords: better cotton, cotton crop, cotton waste, cotton yarn, exporter of raw cotton, Ginners, ginning units, high carbon footprint, increase sustainable cotton production, Pakistan cotton grower, significant for Pakistan economy, water intensive crop

Pakistan, the fifth largest global cotton grower and third largest exporter of raw cotton, is among the major growers of cotton in the world. Today, Pakistan is one of the largest exporters of cotton yarn and fourth largest consumer of cotton, which makes cotton crop significant for Pakistan’s economy. As environmental experts regard high carbon footprint of cotton a significant threat to the environment, as it’s a water intensive crop. Measures are being introduced to reduce high carbon footprint of cotton.