Related Keywords: cotton bale, due to quality factor, Ginners, major buyers on sidelines, mills and spinners, official spot rate, Pakistan cotton market, seed cotton price, trading activity moderate
As major buyers were on the sidelines due to quality factor, trading activity remained moderate on the cotton market on Tuesday, dealers said.
Seed cotton prices in Sindh were at Rs 2300-2350 and in Punjab rates were at Rs 2350 and Rs 2450. In the ready business, around, 3000 bales of cotton changed hands between Rs 4700 and Rs 5000. However, the official spot rate remained unchanged at Rs 4700.
According to analysts, some needy mills and spinners took part in fresh buying of seed cotton while ginners preferred to sell to meet their financial problems.
