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Related Keywords: causing decline in rates, cotton bales changed hands, Cotton market, cotton prices modestly down, ginners reluctant in new purchasing, official spot rate down, quality was not matching, ready session, Trading activity slowed down

Trading activity slowed down as ginners were reluctant in new purchasing because quality was not matching with their psychological levels causing decline in rates on the cotton market on Tuesday, dealers said.

The official spot rate after maintaining a stable trend for a long time came down modestly, shedding Rs 50 to Rs 6200. In Sindh, seed cotton prices were at Rs 2600-3250 while that in Punjab, phutti rates were at Rs 2800 and Rs 3500, as per 40 kg.

Related Keywords: cotton bales, Cotton market, demand is surging with passage of time, facing shortage, fresh selling of cotton, Ginners, KCA, official spot rate down, prices heading towards season high, seed cotton price, tight supply of quality lint, unsold stock

At cotton market on tight supply of quality lint witnessed prices heading towards season’s high on Monday dealers said. Some brokers said that demand is surging with the passage of time as country is facing shortage of nearly 5 million bales of cotton.

The official spot rate gained Rs 100 to Rs 5,650. In Punjab, seed-cotton prices were at Rs 3000 and Rs 3200 while in the ready business, around 11000 bales of cotton changed hands between Rs 5100 and Rs 5950.

Related Keywords: agriculture experts advised farmers, appreciation in the dollar's rate, damaging next crop, destroy remains of cotton crop, eliminate pests, fearing rise of short supply, official spot rate down, Pakistan cotton market, survive on cotton, trading activity showed improvement

Trading activity at Pakistan cotton market showed improvement on Tuesday fearing rise of short supply, according to dealers. In Sindh, seed cotton prices were at Rs 2200 and Rs 2800 and in the Punjab, rates were at Rs 2300 and Rs 3000. The official spot rate was down by Rs 50 to Rs 5,300.

In the ready business, deals of over 14,000 bales of cotton finalised between Rs 5125 and Rs 5600. Dealers said.

According to cotton analyst, Naseem Usman, there is no fundamental change to observe just mills and spinners were making deals to keep themselves away from future losses.