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Trading activity remain moderate due to renewed buying interest at the lower level at the cotton market on Tuesday. However, the availability of quality cotton resulted in some trading activity.

Trading on ready counter was fairly moderate as needy spinners went for quality cotton. The following deals were reported to have changed hands on ready counter: 7,000 bales, Alipur, at Rs7,000; 400 bales, Jalalpur, at Rs7,100; 2,487 bales, Rahimyar Khan, at Rs7,300; and 800 bales also, Rahimyar Khan, at Rs7,000.

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Renewed buying interest from spinners and some exporter at cotton market on Friday pushes cotton prices higher. Cotton prices rose by Rs200 to Rs300 per maund (around 37 kilograms).

There were higher trade deals which helped cotton prices recoup their recent losses and finished around Rs200 to Rs300 higher on the ready counter, brokers said.

The Karachi Cotton Association raised its spot rate by Rs100, to Rs6,300 per maund.

Related Keywords: cotton producing countires, heavy buying witnessed, helped cotton prices recover recent losses, KCA, meet near future needs, needy spinners, Pakistan cotton yarn, pushed cotton prices higher, ready counter, ready market trend, rushing back to replenish their stock, spot rate

With needy spinners rushing back eagerly to replenish their stocks to meet their near-future needs, heavy buying was witnessed which helped cotton prices to recover recent losses. The steady flow of buying pushed cotton prices higher on ready counter.

Also fear of disruption in phutti (seed cotton) supply from cotton fields into ginneries owing to expected heavy rains in the coming days generated buying activity.