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Related Keywords: avoided bulk buying, drop in price of cotton, Karachi Cotton Association, Karachi cotton exchange, local cotton markets in Pakistan, official rate unchanged, one month low, slowdown in sales of cotton yarn, textile mill owners

Local cotton markets in Pakistan witnessed drop in price of cotton to one month low at Rs4,800/maund (37.324 kilograms) as textile mill owners avoided bulk buying on Thursday.

The Karachi Cotton Association kept its official rate unchanged for the third consecutive working day at Rs4,500/maund. It reported maximum price at Rs4,780/maund from Rs4,825/maund a day ago.

Traders bought 9,400 bales at Rs4,550 to 4,780/maund as compared to 10,200 bales bought at Rs4,500 to Rs4,825/maund a day ago, the Association added.

Related Keywords: Karachi cotton exchange, leftover stock of commodity low, next harvesting delayed, Pakistan local cotton market, price surged five month high, prime quality cotton, remained unchanged, spot rate, taking fresh postion, textile mill owners, to buy cotton bales

Prime quality cotton price surged to five-month high at Rs5,340 per maund (37.324 kilograms) at the local markets on Thursday as many textile mill-owners were taking fresh positions in prime quality cotton because of two reasons; one the leftover stock of the commodity was low. Secondly, the next harvesting of the commodity is delayed by two to four weeks.

According to Naseem Usman, a broker at the Karachi Cotton Exchange, the increase in cotton price is seen following a surge of Rs100 per 40kg in phutti (seed cotton).

Related Keywords: boosted rates, Cotton market, Karachi cotton exchange, mills and spinners, PCGA, spot rate, Thin business activity, tight supply of quality lint, world commodity market

Thin business activity was seen as mills and spinners were disappointed owing to tight supply of best quality lint which boosted the rates as the result they were unable to make deals on the cotton market on Monday, dealers said.

The official spot rate was unchanged at Rs 5000, dealers said. In the ready session, over 4,000 bales of cotton changed hands between Rs 4625 and Rs 5275, they said. The prices of seed cotton in Sindh were at Rs 1900 and Rs 2350 and in Punjab rates were at Rs 2000 and Rs 2650, they said.

Related Keywords: building stock for long term use, decline, Karachi cotton exchange, majority big textile mill owners, new crop arrival in June, Pakistan cotton market, quitting local market, spot rate, trade turnover

With majority of big textile mill-owners quitting the local markets after building stocks for long-term use, the trade turnover of cotton witnessed decline by over 40 percent to 5,900 bales (155 kilograms each, according to dealers on Thursday.

Most of the big textile mills are covered till next September. Although the new crop will start arriving in the markets in June, but matured cotton would come later, said Taqi Abbas, a broker at the Karachi Cotton Exchange.

The KCA maintained its official spot rate for the fourth working day at Rs5,000 per maund.

Related Keywords: active trading, Karachi cotton exchange, low yarn demand, Normal trading, prices of seed cotton, remained unchanged, spot rate, upcountry expenses

Normal trading was seen happening on Tuesday at the Karachi Cotton Exchange, the spot rate also remained unchanged. The spot rate stood unchanged at Rs4,950 per maund (37.324kg) and Rs5,305 per 40kg. Ex-Karachi price also remained the same at Rs5,100 per maund and Rs5,465 per 40kg after addition of Rs150 and Rs160 as upcountry expenses, respectively.

The KCE recorded transactions of around 20,000 bales in the range of Rs4,000 per maund to Rs5,200 per maund.

Related Keywords: continue production, during commodity off season, Karachi cotton exchange, Pakistan local cotton market, rushed to develop inventories, short supply of quality lint, Spinners, spot rate, textile mill owners, witnessed surge in trade turnover

Local cotton market in Pakistan witnessed surge in trade turnover by 20 percent to 15,200 bales (of 155 kilogram) as spinners and many of the textile mill owners rushed to develop inventories to keep continue their production during the commodity’s off-season (March-June) on fears of short supply of quality lint, said a dealer on Friday.

Those, who have yet not built inventories with prime quality cotton, are acquiring it ahead of the off-season, said a broker at Karachi Cotton Exchange, adding the size of unsold cotton stock stood around 1.1 million bales in the current season.

Related Keywords: buying cotton, cotton dealers, Karachi cotton exchange, Pakistan cotton market, prime quality cotton, textile mill owners, world benchmark cotton market

As several textile mill owners have resumed buying cotton on conflicting reports that the supply of the commodity remained low during the last two weeks. According to cotton dealers, trade turnover of cotton spiked four-fold to 15,800 bales (of 155 kilogram each).

According to Naseem Usman, a broker at Karachi Cotton Exchange, the next fortnightly production report, which is scheduled to be unveiled tomorrow {Wednesday}, may reveal lower production in the last two weeks.

Also the country may face shortage of prime quality cotton, if not of poor qualities.

Related Keywords: cotton prices, Karachi cotton exchange, Pakistan cotton market, remain dull, spot rate unchanged, upward trend at world market

Pakistan cotton market on Monday witnessed recovery in its cotton prices by Rs100 per maund (37.324 kilograms) to Rs5,010 per maund at the local markets due to upward trend at world market. \

New York cotton (futures) market amid increase in demand for the commodity there maintained upward trend, according to brokers at the Karachi Cotton Exchange.

The Karachi Cotton Association (KCA); however, kept its official spot rate unchanged on the second working day at Rs4,900 per maund.

Traders bought 4,700 bales (155 kilograms) at Rs4,500 to Rs5,150 per maund, the KCA reported.

Related Keywords: boost activity, capital shortage, cotton yarn, Karachi cotton exchange, maintain inventories, Pakistan cotton market, slowdown in sale, textile mill owner, trade turnover, world cotton market

Pakistan textile mill-owners to maintain their inventories on the higher side resumed purchasing, which helped boost activity at the cotton market with trade turnover of cotton improving by 16 percent to 19,200 bales (155 kilograms).

However, the trade activity was comparatively low due to slowdown in the sales of cotton yarn , a dealer said on Monday.

According to a broker at the Karachi Cotton Exchange, big textile mills maintain, at least, three-month stock of cotton in hands.

Related Keywords: cotton bales, cotton price, cotton trading, Karachi Cotton Association, Karachi cotton exchange, Pakistan cotton market, picking of phutti, rains, textile mill-owners

Concerns over supply cotton trading surged at six week high of 23,600 bales after rains in Punjab on Tuesday. If rain continues, the price of cotton likely to go further up.

The rains have slowed down picking of phutti (seed-cotton) in Punjab. It has also caused increase in price of cotton by Rs50 per maund (37.324 kilograms) to Rs5,450 per maund in the afternoon on Wednesday.

According to Taqi Abbas, a broker at the Karachi Cotton Exchange, uncertainty convinced textile mill-owners to buy big lots of the commodity.