News Tags

Related Keywords: better rates compared to current prices, buyers and sellers, Cotton market, entry into the market, fresh selling, ginners showed no interest, no single deal finalized, official spot rate, remained unchanged, Trading Corporation of Pakistan, witnessed wait and see attitude

The cotton market on Thursday witnessed a wait and see attitude from both buyers and sellers after Trading Corporation of Pakistan (TCP)'s entry into the market, dealers said.

According to the market sources, the ginners showed no interest in fresh selling, anticipating better rates as compare to the current prices.

In the Punjab, a very small size of seed-cotton left with the ginners showed no change for inferior type at Rs 3100 while best quality picked up Rs 200 to Rs 3400 while, in the ready business, not a single deal finalized.

Related Keywords: cotton bales, creating uncertainties among mills and spinners, decline in Indian cotton production, domestic spot market, dwindling stock of quality lint, ginners raised asking price, no single deal finalized, official spot rate remained unmoved, Pakistan cotton market, Punjab prices, spinners show no interest in fresh buying

With dwindling stock of quality lint, ginners have raised asking price of quality lint due to which not a single deal was finalized on the cotton market on Monday. The official spot rate also remained unmoved at Rs 5,350 dealers said. In the Punjab prices were at Rs 2400 and Rs 3100.

According to market sources, some of the ginners who held back quality lint on hopes of better income in the coming days, raised asking prices, but the spinners showed no interest in fresh buying.