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Related Keywords: CCIC, China Cotton Association, Cotton imports plunged, cotton market on Saturday, flow of seed cotton gradually raising daily in-take, maintaining present levels, process of trading, quality is improving, rise in cotton price, sustained buying by mills and spinners

Rise in cotton price was seen on sustained buying by mills and spinners on the cotton market on Saturday, dealers said. According to market sources, sustained demand by spinners and mills did not allow prices to look down, instead maintaining present levels in the process of trading.

The official spot rate was higher by Rs 50 to Rs 6,550, dealers said. In Sindh, seed cotton prices were inert at Rs 3200-3400, in Punjab, Phutti rates were at Rs 3000-3400, per 40 kg, respectively, they said.

Related Keywords: China, cotton bales, dull market seen, leading spinners kept on sidelines, Pakistan cotton market, process of trading, ready business, reduction in cotton cultivation, seed cotton, spot rate, top growing region

Dull market was seen on the cotton market on Tuesday as leading spinners kept on the sidelines in the process of trading. In the ready business, about 1400 bales of cotton changed hands at Rs 5550, dealers said.

In Sindh, prices of seed cotton at Rs 1600 and Rs 2800, in the Punjab, rates were at Rs 2000 and Rs 3000. The official spot rate remained unchanged at Rs 5,350.

As per the market sources, the spinners were not keen in making fresh deals because they are already facing losses due to high risk of doing business in absence of incentives by the government.